The Nikkei 225 rebounded ¥555 in the morning to trade at ¥64,769. A calmer U.S. interest-rate outlook and buying of growth stocks provided support, while the yen's appreciation capped gains in export-related stocks.
The Nikkei 225 opened at ¥64,769 on the 4th, up ¥555 from the previous day, in Tokyo trading. The pause in the rise in long-term U.S. interest rates was reported to have served as a buying catalyst.
Buying advanced in stocks with strong growth prospects, including SoftBank Group (SBG) and Kioxia Holdings. SBG was reported to have risen as much as 10% during the day.
Meanwhile, the yen's sharp appreciation prompted selling in export-related stocks, including automakers, and was seen as capping gains across the market. It was pointed out that market reactions could calm if interest-rate movements became less pronounced.
Kioxia was observed to be gradually recovering from a bottoming phase and attracted attention as one of the growth stocks. Overall, it was a day of increased interest in momentum stocks.