The Nikkei 225 was around ¥190 higher in morning trading, but was pressured by profit-taking sales after buying subsided. Buying led the market following the trend in US markets, but selling emerged more readily as time passed.
As of 10:09 a.m., the Nikkei 225 was trading around ¥190 above the previous weekend's close. It reached the ¥6,703.4 level at 9:24 a.m., recovering to the ¥67,000 level during trading hours for the first time in about five weeks. In US markets, the Dow rebounded and the Nasdaq extended its gains on expectations of progress in ceasefire negotiations, prompting early buying in Tokyo.
However, the market appeared to be pressured by profit-taking sales after buying subsided. The yen-denominated settlement price of Chicago Nikkei 225 futures was trading ¥155 above the previous weekend's close. By sector, 15 of the 33 sectors rose and 18 fell. Some glass and stone products, nonferrous metals, machinery, precision instruments and bank stocks were firm or solid, while mining and pharmaceutical stocks were weak.
In the Tokyo foreign exchange market, the dollar was trading in the upper ¥157 range and the euro in the mid-¥179 range as of 10:03 a.m. Provided by Wealth Advisor.
Stocks supporting further gains included machinery stocks such as DISCO and SMC, electrical equipment stocks such as Advantest and Tokyo Electron, and insurance stocks such as Dai-ichi Life Group and Tokio Marine. Nidec, Okuwa and Tomen Devices, among others, were lower.