The Nikkei average recovered to the ¥60,000 range as buying back of AI-related stocks spread, driving a gain of more than ¥1,800 at one point. The decline in crude oil futures during the session was also cited as a factor behind the market's rise.
The Nikkei average did not rise for a ninth straight day, but recovered to the ¥60,000 range on a rebound following the 6th. The gain exceeded ¥1,800 at one point, leading to a significant recovery.
The average rose by approximately ¥500 shortly after trading began, and buying continued throughout the session. Some market participants said supply and demand were correcting the sense that AI-related stocks had been oversold.
Market participants analyzed that buying back of recent declines had emerged, mainly in AI-related stocks. The decline in crude oil futures prices was also cited as a factor behind the stock market's rebound.
Buying back of AI-related stocks stood out as the market recovered after the previous day's sharp decline, while some views held that the outlook would remain dependent on further developments.