The Nikkei Average recovered to the ¥66,000 range after the holiday period as crude oil prices fell. Buying broadened, led by technology stocks, with AI- and semiconductor-related shares driving the market.
The Nikkei Average rose after the holiday period and temporarily recovered to ¥66,000. The decline in crude oil futures was cited as a factor, while buying broadened particularly among technology stocks related to AI and semiconductors. Gains during trading accelerated at the start of the session after the holiday period, leading to a sharp rebound in the Nikkei Average. Market participants cited stability in crude oil prices and US interest rates as factors and expressed a positive view of trading ahead.
In addition to falling crude oil prices, expectations that long-term interest rates would remain stable spread, prompting buying led by AI- and semiconductor-related shares. Among individual stocks, buying in technology shares drove the market, with investor risk appetite strengthening at times. Market participants said that "in addition to crude oil prices, expectations for US rate hikes have also stabilised," and pointed to the possibility of conditions conducive to bullish trading.
News from other sectors was also mixed into the broader external backdrop, including FamilyMart's record-high profit. Alongside financial topics such as strong performance in the advertising business and retail earnings, reports on economic developments, including movements in the yen's appreciation and depreciation and the restaurant industry's response to tax rules, were also advancing at the same time. Overall, these factors helped shape part of market sentiment.