The Nikkei 225 closed at ¥69,220.25 on the 17th in Tokyo trading after surging in the afternoon session and recovering from its sluggish performance in the morning. The index rose for the fourth consecutive trading day since the start of the week, approaching the psychologically significant ¥70,000 level.
The Nikkei 225 struggled to hold near its highs during the morning session in Tokyo trading at the start of the week, but recovered in the afternoon and sharply extended its gains toward the close, ending at ¥69,220.25. The index opened at ¥68,882 and rose to around ¥69,064 in the 9 a.m. hour, but had difficulty holding that level before moving higher again in the afternoon.
In the afternoon session, the index rose in stages, reaching ¥68,798 at 12:35 p.m., ¥68,884 at 12:45 p.m. and ¥68,942 at 1:10 p.m., before climbing to ¥68,973 at 2:20 p.m. Gains accelerated again after 2:30 p.m., with the index reaching ¥69,049 at 2:45 p.m. and ¥69,188 at 3 p.m.
Following three consecutive days of sharp gains last week, the market made a strong start to this week. The Nikkei 225 closed on the 17th up ¥506.45 from the previous Friday, marking its fourth consecutive trading-day gain. The index briefly rose to nearly ¥69,600 on the 14th, but moved higher again toward the end of the afternoon session.
The dollar traded at around ¥159, and the yen's weakness may have helped support export-related stocks. The three major U.S. stock indexes closed slightly lower, but this did not become a significant drag on Japanese equities. The focus is expected to be on whether the Nikkei 225 can hold above ¥69,000 and approach the ¥70,000 milestone.