In afternoon trading, the Nikkei extended its gains as buying of semiconductor-related stocks led the market. USD/JPY weakened, with moves to restrain yen depreciation, while Advantest was the top contributor to gains, followed by Ibiden in second place.
In afternoon trading on the 24th, the Nikkei opened at ¥65,476.44, up ¥457.49, and then extended its gains. Against the backdrop of developments in the US market during the morning session, buying spread mainly across semiconductor-related stocks, and the index at one point tested the 66,000 level.
USD/JPY traded on a weak footing, with the dollar rising to ¥158.37 before falling to ¥157.79. Expectations surrounding interest-rate trends and remarks from financial authorities cautioning against yen depreciation influenced the market.
Among the stocks to watch in afternoon trading, Advantest was the top contributor to gains, followed by Ibiden in second place, and movements in these stocks supported the Nikkei.
Overall in afternoon trading, semiconductor-related stocks drove the market, while selling was reportedly likely to emerge in other sectors as investors waited for prices to recover toward higher levels, depending on developments in market catalysts.