The Nikkei Average rebounded against a backdrop of strength in US markets. After opening higher in the morning session, the index struggled to extend its gains but ultimately closed at ¥66,405, up ¥273.
The Tokyo market opened with the Nikkei Average down ¥27 at ¥66,104. Semiconductor-related stocks led a turnaround after rising US tech stocks prompted buying, and the morning close was ¥66,682, up ¥550.
The market narrowed its gains in the afternoon, but the Nikkei Average ultimately rebounded, closing at ¥66,405, up ¥273. The TOPIX ended at 4,146 points, up 29 points, while the TSE Growth Market 250 Index for emerging-market stocks closed at 823 points, up 25 points.
Among individual stocks, Kioxia Holdings Corporation fell 8.8% to ¥47,900 after announcing plans to build a new semiconductor memory production facility in Iwate Prefecture. The company also disclosed plans to invest ¥5 trillion with SanDisk over the next 6 years. Fujitsu extended its gains, rising 4.0% to ¥3,904. Buying was supported by Salesforce's upward revision to its earnings outlook and the strengthening of its partnership with Anthropic.
Hitachi rose 2.2% to ¥5,550, extending its winning streak to 5 sessions. Taiyo Yuden rebounded after 2 sessions, rising 3.9% to ¥9,244. Expectations that reports of Samsung Electronics raising MLCC prices would spread to Japanese manufacturers also gained traction against a backdrop of market trends in Taiwan. Sentiment toward Japanese stocks is also expected to continue improving.