The Nikkei remained range-bound after the open and was up ¥791 from the previous day as of 09:05. Buying led the market on gains in US stocks, while expectations for first-half earnings from March year-end companies from next week onward also provided support.
The Nikkei was up ¥791 from the previous day as of 09:05, with buying leading and supporting the market. Intraday trading has been range-bound since the open.
The previous day's gains of more than 1% in the Dow and other moves in US stocks provided support for the Tokyo market, while dip-buying also emerged. Expectations for first-half earnings from companies with March year-ends were seen as a factor supporting the market.
At the same time, some viewed declines in the Nasdaq Composite and the SOX Index, which has a high weighting of technology stocks, as a burden on AI-related and semiconductor stocks. Uncertainty over the situation in the Middle East and persistently high oil prices also made investors cautious.
Some said the market was nearing an adjustment phase, citing an approaching dead cross between the Nikkei's 25-day and 75-day moving averages, but buying prevailed at the open. Trading has remained range-bound since the open.