TOPIX rose modestly on the morning of the 26th. Oil-related stocks were bought as tensions in the Middle East escalated, while the yen traded in the upper ¥156 range against the dollar.
In Japan's market on the 26th, the Tokyo Stock Price Index (TOPIX) rose modestly. Even after trading began, moves to reverse the lacklustre market tone remained limited, and no clear direction emerged across the market.
Crude oil prices have remained elevated following the deterioration in the situation in the Middle East, providing a catalyst for buying oil-related stocks and supporting the market. At times, moves in specific sectors pushed the overall market relatively higher.
The yen continued to weaken at times, reaching the upper ¥156 range against the dollar. Expectations that high crude oil prices would persist were seen as a factor behind the yen's weakness, and investor attention focused on resource-related stocks.