In the Japanese stock market on the morning of the 8th, the Nikkei Average opened approximately ¥270 below the previous day's level. Selling initially prevailed, particularly in export-related stocks, but dip-buying gained the upper hand, pushing the index up to around ¥66,791.84 and turning it higher.
Around 10 a.m. on the morning of the 8th, the Nikkei Average was trading at around ¥66,xxx, approximately ¥270 below the previous day's level, with selling initially prevailing. Selling pressure was seen particularly in export-related stocks, partly reflecting the yen's move toward appreciation. However, once the selling subsided, dip-buying gained the upper hand and the Nikkei Average turned higher. At 9:58 a.m., it had risen to around ¥66,791.84.
By sector, 8 of the 33 sectors rose and 25 declined. Oil and coal products, information and communications, nonferrous metals, and securities and commodity futures stocks were relatively firm, while real estate and construction stocks also performed well. Transport equipment, rubber products, and precision instruments stocks were weak. External factors included the closure of the U.S. market and movements in the Osaka Exchange night session.
In the Tokyo foreign exchange market, the dollar was trading in the ¥153 range and the euro in the ¥178 range. Foreign-exchange movements are believed to have influenced the Nikkei Average as well.