The Nikkei rose 853 points at the open and continued to advance as buying remained dominant. Against a backdrop of movements in US equities and fluctuations in long-term interest rates, semiconductor-related stocks provided support for the Tokyo market.
The Nikkei rose 853 points at the open, with its gains widening as of 9:05 a.m. Semiconductor-related stocks led the early buying, supported by gains in the SOX Index and purchases of related stocks.
Movements in the US equity market affected the Tokyo market. Although the Dow, Nasdaq and S&P 500 all fell from the previous Friday, the rise in the SOX Index supported the market. Lower long-term interest rates also helped stabilize investor sentiment.
The Nikkei was seen as finding support in the 64,000 range, and some market participants believed there was limited downside from that level. Buying remained dominant after the open, with gains continuing to widen.
Meanwhile, the previous Friday's decline in US equities, persistently high crude oil futures prices in overseas markets and elevated US long-term interest rates kept market sentiment cautious. Uncertainty over the outlook for the situation in Iran was also a factor in focus.