The Nikkei Average opened the afternoon session in Tokyo at around ¥343 above the morning close, with buying leading gains after the open. Mitsubishi Materials and SBI Holdings were among the stocks trading near their highs.
Japanese stocks opened the afternoon session with the Nikkei Average up ¥343.72 from the previous day at ¥66,200.15. Although the gain narrowed slightly from the morning close, the market got off to a firm start. Nikkei 225 futures traded within a range, while the dollar traded at ¥158.90-159.00, indicating a stronger yen and weaker dollar.
The Shanghai Composite held firm after a slight decline, while the Hang Seng Index rose steadily. Some investors held back from buying ahead of Nvidia's May-July results. There was also a view that the market's absorption of morning selling had provided reassurance.
By sector, securities and commodity futures, insurance, and pharmaceuticals were among the leading advancers, while oil and coal products, marine transportation, and mining were among the leading decliners. Stocks among the top issues on the TSE Prime Market by trading value included Mitsubishi Materials, SBI Holdings, Tokyo Electric Power Company Holdings, Sumitomo Metal Mining, Tokio Marine Holdings, NEC, SoftBank Group, Advantest, Recruit Holdings, and Sony Group.
Decliners included ASICS, Taiyo Yuden, SUMCO, Toyo Engineering, Furukawa Electric, Kawasaki Kisen Kaisha, IHI, Mitsui O.S.K. Lines, Nitto Boseki, and Kioxia Holdings.