Tokyo stocks continued to trade in a narrow range near the day's highs, while a wait-and-see stance spread ahead of the earnings announcement season. The Nikkei remained at a high level compared with the previous day, with selling by investors awaiting a rebound and dip-buying both evident after the start of the afternoon session.
The Nikkei traded in a narrow range near the day's highs again, and after buying targeting a technical rebound ran its course, a wait-and-see stance emerged ahead of the earnings announcement season. Selling by investors awaiting a rebound and dip-buying are competing with each other.
The Nikkei rebounded sharply in the morning, but there was a period when its gains narrowed toward the open of the afternoon session, and upside pressure remained heavy. The TOPIX also held in positive territory, and gainers continued to outnumber decliners overall.
Among individual stocks, buying focused on large-cap semiconductor-related names including Advantest, Tokyo Electron and SoftBank Group, lifting the broader market. Market participants point out that it will still take time to dispel concerns about excessive investment related to AI.