Tokyo stocks extended their gains, with the Nikkei average at one point up more than ¥900 during the morning session. While AI-related shares stood out, non-AI shares, including transportation equipment and pharmaceuticals, also posted notable gains.
The Nikkei average was broadly bought during the morning session, at one point gaining more than ¥900 from the previous day. A pause in the rise in U.S. interest rates supported a rebound in buying, which continued even after the morning’s initial trading had run its course. Against this backdrop, activity across the broader market picked up.
By sector, metal-related shares, including nonferrous metals, performed relatively well, supported by elevated metal prices. Meanwhile, sectors such as transportation equipment and pharmaceuticals, where AI-related shares had led the market until recently, also helped support the market at times.
Among individual stocks, Tokyo Electron and Ibiden at times edged lower. The upside for electric-wire stocks, including Fujikura, was limited, and some market participants expressed concern about the financial risks associated with AI-related investments.
The Nikkei average rebounded at the open, rising ¥406.37 from the previous day to ¥65,732.79, with buying during the morning session spreading broadly across the market.