The Nikkei Stock Average rebounded in the Tokyo stock market on the morning of the 20th, rising by more than ¥900 at one point. Repurchases of undervalued stocks advanced, while lower long-term interest rates also provided support. The Nikkei closed at ¥65,982.49, up ¥656.07 from the previous day, while TOPIX rose 36.41 points to 4,048.72.
The Nikkei Stock Average rebounded in the Tokyo stock market on the morning of the 20th, rising by more than ¥900 at one point. It closed at ¥65,982.49, up ¥656.07 from the previous close, while TOPIX rose 36.41 points to 4,048.72.
Buying of stocks seen as undervalued spread across the market, with reports suggesting that orders expanded across a broad range of industries as investors found prices attractive following the decline in the average share price.
The decline in long-term interest rates also helped improve investor sentiment. Some commentary attributed part of the move in the Japanese market to the US Treasury’s announcement that it would increase the maximum amount of its long-term Treasury buybacks.