Tokyo stocks extended their gains in the morning session on the 11th on dip buying. The Nikkei Average was up ¥482.90 from the previous day at ¥60,942.48, TOPIX also rose, and trading was active, with volume exceeding approximately 1.1 billion shares.
The Nikkei Average maintained a high level at the midday close, with dip buying and gains in strong-performing stocks and financial stocks supporting the market. The effects of expectations for a US rate hike and SoftBank Group's earnings were limited.
The Nikkei Average was at times up more than ¥500 in the 10 a.m. hour, while movements in individual AI-related and semiconductor-related stocks attracted the attention of market participants. Some major securities firms pointed to improved sales outlooks for US emerging AI cloud companies.
The market opened slightly higher, and buying and selling were mixed overall against a backdrop of buying in financial stocks. Movements in SoftBank G's shares following the release of its interim results became the market's focus toward the close, but a sharp decline was limited.
By sector, textiles, securities and commodity futures, and electrical appliances rose. Transport equipment, information and communications, and services were among the sectors leaning lower.