The Nikkei Average rebounded on the 20th, hovering around ¥65,830 in afternoon trading, up approximately ¥500 from the previous day. Buying to cover losses prevailed following the previous day’s sharp decline, recovering the key ¥65,000 level. The index then moved to pare its gains in the afternoon session.
The Nikkei Average rebounded on the 20th, trading around ¥500 above the previous day’s level in the noon hour. Buying to cover losses prevailed following the previous day’s sharp decline, and after recovering the ¥65,000 range, the market settled down again in the latter half of afternoon trading.
The yen traded in the low ¥158s per dollar. With range-bound trading continuing amid a lack of clear direction, the scope for aggressive gains in share prices was limited.
Fast Retailing, SoftBank Group and Kioxia Holdings ranked among the top contributors. As concerns about semiconductor market conditions eased, investors bought leading stocks that had been heavily sold the previous day.
Tokyo Electron, Advantest and Ibiden were among the top negative contributors. Continued profit-taking in some semiconductor-related stocks capped the index’s upside.
As of 12:45 p.m., trading volume was approximately 1.19818 billion shares and trading value was approximately ¥4.8161 trillion. Both had declined from the same time the previous day, indicating somewhat calmer market activity.