The Nikkei Average rebounded in the morning session, rising by more than ¥1,300 at one point as buying returned to semiconductor-related stocks. Against the backdrop of movements in U.S. markets, trading was driven by buying focused on major stocks.
The Nikkei Average was up ¥748.13 at ¥64,823.55 in the morning session, with estimated trading volume of 1.0611 billion shares. Although U.S. stocks were mixed, the Nikkei maintained its rebound trend, led by buying in semiconductor-related and bank stocks. It rose by more than ¥1,300 at one point in the morning, but after moving above the ¥65,000 level, selling into gains intensified and the advance narrowed around 10:00.
Among individual stocks, Advantest, Tokyo Electron, SoftBank Group, Ibiden and TDK rose. KDDI, Toyota Tsusho, Fast Retailing, Bridgestone, Kao and Olympus fell. By sector, nonferrous metals, banks and precision instruments rose, while retail, rubber products, pulp and paper fell.
The market is expected to maintain its gains in the afternoon session, although trading may focus on gauging the strength of selling into gains above ¥65,000. The September trade deficit was ¥536.5 billion, exceeding market expectations, while exports showed solid year-on-year growth.