In afternoon trading on the 28th, buying in semiconductor-related stocks drove the market to sharp continued gains, while game-related stocks remained soft. USD/JPY held up, and reports focused on Advantest and Tokyo Electron driving the afternoon rise.
The Nikkei 225 rose sharply in afternoon trading on the 28th, with buying in semiconductor-related stocks driving the market, while game-related stocks remained soft. Ahead of the Bank of Japan's earnings announcement and movements in US interest rates, investors continued to assess market conditions. Late in the morning session, the Nikkei 225 recovered to the ¥64,000 range.
Among individual stocks, high-priced stocks such as Advantest and Tokyo Electron pushed the index higher, and the Nikkei 225 extended its gains after the open. By contrast, gains in game-related stocks including Konami Group, Bandai Namco Holdings and Capcom were limited.
USD/JPY rose to around ¥158 in the morning before moving into range-bound trading in the upper ¥157s. Although upward pressure on the yen had eased, reports said dollar buying was returning. Currency movements could affect prices going forward.
VLC Security and IBC were among the stocks to hit their daily price limits at one point as stocks to watch in the afternoon session. Advantest and Tokyo Electron also continued to be cited as stocks attracting market attention. Scheduled earnings announcements and the earnings of major US IT companies, as well as the FOMC and ECB announcements, which could influence overall market trends, are forthcoming.