The Nikkei Average rose ¥656 in the morning session, rebounding for the first time in 3 days, but gains narrowed after buying ran its course as investors sold into the rebound.
The Nikkei Average ended the morning session at ¥65,982.49, up ¥656.07 from the previous day, while TOPIX rose 36.41pt to 4,048.72pt. Buying led the market from the opening against a backdrop of gains in U.S. stocks, but the upside remained heavy as investors sold semiconductor stocks into the rebound. The dollar traded at around ¥158.40, edging toward a weaker yen.
Trading on the TSE Prime Market totaled 1.07094 billion shares, with trading value of ¥4.3789 trillion. Advancing issues numbered 1,143, declining issues 367, and unchanged issues 46. By sector, gainers outnumbered decliners in most of the 33 sectors, with transport equipment, electric power and gas, pharmaceuticals, and information and communications stocks performing well.
Gainers included Toyota, Honda, Tokyo Electric Power Company Holdings, and Kansai Electric Power among electric machinery and electric power stocks; Chugai Pharmaceutical and Daiichi Sankyo among pharmaceutical stocks; and Mercari and SoftBank Group among information and communications stocks. Bandai Namco and Nintendo among other products stocks, as well as real estate and construction stocks, also performed well. Meanwhile, steel stocks such as Nippon Steel and Yamato Kogyo, and banking stocks such as Mitsubishi UFJ and Mizuho, declined.
Among the day's market movers, Toho Zinc, giftee, Matsuya, Sumitomo Metal Mining, and Sumitomo Pharma rose, while Sakura Internet, FIG, ROHM, IBIDEN, and SUMCO declined.