The Nikkei Average rebounded to close at ¥66,753.72, up ¥1,272.45 from the previous day. Falling crude oil prices and waning expectations of US rate hikes provided support, while reports indicated that position-building activity is expected to broaden ahead of the start of the second half of the year.
The Nikkei Average rebounded to close at ¥66,753.72, up ¥1,272.45 from the previous day. Against the backdrop of falling crude oil prices, the market prompted speculation that the decline had bottomed, while waning expectations of US rate hikes also supported investor sentiment.
The article reported that falling crude oil prices and waning expectations of US rate hikes supported the market. Market participants said that risk appetite had partially recovered in response to lower oil prices and that short-term fund flows had become more active.
There was a view that position-building would advance ahead of the start of the second half of the year. Investors may proceed with portfolio rebalancing and a review of allocations across sectors.