The Nikkei average rose as much as ¥900.61 from the previous day to ¥64,168.98 in afternoon trading, with broad-based buying focused on semiconductor-related stocks. Gains widened from the morning close, while Nikkei 225 futures remained firm.
In the Tokyo stock market on the afternoon of the 28th, the Nikkei average resumed trading at ¥64,168.98, up ¥900.61 from the previous day, with the gain briefly approaching ¥1,000. Buying spread mainly across semiconductor-related stocks, and the TOPIX also rose.
Among the most actively traded stocks on the TSE Prime market, Kioxia Holdings, Taiyo Yuden, Renesas Electronics and SUMCO traded near their highs. Game stocks and some domestic-demand and financial stocks were weak.
Against a backdrop of expectations for a recovery in the semiconductor sector, notable fund inflows were seen into equipment, materials and device-related stocks. The results of South Korea's SK hynix also supported the market, as they suggested that semiconductor market conditions were bottoming out.
With the FOMC, ECB and BOJ policy meetings and other important events scheduled for this week, caution remained over trading near the highs after the morning close. Market participants view the scope for further short-term gains as limited.