The Nikkei Average recovered the psychologically important ¥66,000 level for the first time in approximately two weeks and widened its gains throughout the day. Buying in response to deteriorating market sentiment toward AI-related and semiconductor stocks contributed to the advance.
The Nikkei Average widened its gain to more than ¥1,000 as of 0 and rose to ¥66,249. Buying led the domestic market against the backdrop of trends in overseas markets.
The 3 main stocks cited as having driven the Nikkei Average higher were SoftBank Group, Advantest and Ibiden, which were said to have contributed approximately ¥800 to the gain.
Domestic long-term interest rates also renewed their high levels in response to rising long-term interest rates in the United States, reaching 3.055% at one point. Rising interest rates are viewed as a headwind for stock prices in sectors other than AI-related industries.
Of the 33 sectors on the Tokyo Stock Exchange, 17 sectors, including nonferrous metals, electric appliances and metal products, advanced, while 16 sectors, including services, electric power and gas, and insurance, declined.