The Nikkei Average firmed in afternoon trading to the ¥64,200 range, supported by higher US stock futures and renewed buying of semiconductor stocks, with buying prevailing through the afternoon.
The Nikkei Average traded in the ¥64,200 range in afternoon trading, with strength in South Korean and Taiwanese markets providing support. Buying on dips emerged in artificial intelligence and semiconductor-related stocks in the afternoon, providing clear support for the index.
In morning trading, the Nikkei Average briefly gained more than ¥700, following gains in semiconductor stocks in the US market. The morning session ended with the Nikkei Average up ¥43.87 from the previous day at ¥63,966.87, while the TOPIX ended the morning session up 29.34 points at 4,091.06.
Stock activity picked up again in afternoon trading. SoftBank Group and Fast Retailing maintained their gains, while Recruit Holdings, Konami Group and Nintendo extended their advances in the afternoon. Among semiconductor-related stocks, Tokyo Electron and Advantest have narrowed their losses.
An off-auction basket trade worth approximately ¥47.2 billion was executed on the Tokyo Stock Exchange after the morning close. The rise in semiconductor stocks in the previous day's US market and the decline in US crude oil futures prices also supported market sentiment, with renewed buying of semiconductor-related stocks remaining a focus in the afternoon.