The Nikkei 225 briefly recovered to the ¥70,000 range for the first time in approximately 3 months, with its intraday level approaching the upper end of the ¥70,000 range. In addition to receding U.S. rate-hike expectations and falling crude oil prices, continued buying of AI- and semiconductor-related stocks was reported as a factor.
The Nikkei 225 briefly moved back into the ¥70,000 range for the first time in approximately 3 months and approached that level during trading. The development was reported as breaking news.
According to market participants, the decline in crude oil prices following the G7's decision to release oil reserves, together with employment data falling short of market expectations, eased expectations for an early U.S. rate hike and provided a tailwind.
Following the trend through the previous day, AI- and semiconductor-related stocks were bought in the Tokyo market. High-tech stocks were active, with semiconductor giant NVIDIA reaching a new record high.
Against the backdrop of falling crude oil prices and receding U.S. rate-hike expectations, the view was expressed that the Nikkei 225 could enter another upward phase. At the same time, the market remains in a wait-and-see position pending further reports.