The Tokyo stock market opened higher at the start of the afternoon session on the 16th, with the Nikkei 225 initially rising, but selling into the rebound capped gains and narrowed the advance. Buying in major semiconductor-related stocks provided support at times.
The Nikkei 225 opened the afternoon session at ¥65,421.10, up ¥995.15 from the previous day, but continued selling into the rebound weighed on the upside. The morning close was ¥65,550.68, up ¥1,124.73 from the previous day, as buying aimed at a technical rebound emerged, but the upside was capped as a wait-and-see stance spread against a backdrop including higher oil prices.
By sector, Other Products, Services, Pharmaceuticals and Electric Appliances rose, while Electric Power and Gas declined. Stocks in the Standard TOP20 and the Growth market also rebounded at times. Trading volume was high, indicating active market-wide trading along with the movement of the Nikkei 225.
At 10:24 a.m., the Nikkei 225 widened its gain to more than ¥1,200 from the previous day, with buying in large-cap semiconductor-related stocks including Advantest, Tokyo Electron and SoftBank Group pushing up the index. Market participants commented that the rebound lacked strength in light of the previous day's decline. The index opened at ¥64,925.29, up ¥499.34 from the previous day.