At the opening of morning trading on the 7th, the Nikkei 225 traded in a narrow range around the previous day's close, with buying and selling in AI- and semiconductor-related stocks offsetting each other. Caution following the previous day's sharp rise influenced market sentiment.
At the opening of morning trading on the 7th, the Nikkei 225 traded in a narrow range around the previous day's close. While selling emerged as investors remained cautious at elevated levels, many stocks were bought on the back of gains in US equities the previous day.
The Nikkei 225 had risen by approximately ¥2,400 over the preceding 2 days and on the 6th recovered to the ¥70,000 level for the first time in 3 months. Profit-taking selling emerged as investors took profits after reaching that milestone, at times pushing the index lower.
Individually, Tokyo Electron, Kioxia and TDK fell. In contrast, Fast Retailing, Fujikura and Suzuki rose, with movements diverging across stocks.
In the US market, major indices including the Dow Jones Average rose. Against a backdrop of lower long-term interest rates, the Nasdaq and S&P 500 hit new highs, influencing trading in the Tokyo market.