Tokyo stocks staged a modest rebound in the morning session on the back of higher U.S. shares, with the Nikkei holding firm against the previous day. The TOPIX maintained its upward trend, and about 60% of stocks rose, although some AI-related shares came under selling pressure.
The Nikkei ended the morning session up ¥130.19 from the previous day at ¥64,455.83, while the Tokyo Stock Price Index (TOPIX) rose 42.48 points to 4,124.08. Following gains in U.S. stocks as the recent rise in U.S. interest rates paused, share prices rose across a broad range of sectors.
Overall, 66% of stocks rose and 29% fell. Trading volume was 945.73 million shares, with turnover of ¥3.4424 trillion. By sector, wholesale, oil and coal products, steel, and securities and commodity futures trading rose, while mining and nonferrous metals declined.
As of 10 a.m., the Nikkei temporarily fell below its morning-session level, while upside remained limited as some of U.S. chipmaker Broadcom's earnings guidance fell short of market expectations and its shares were sold in after-hours trading, with elevated interest rates also weighing on sentiment.
On the TSE Prime Market as a whole, nearly 60% of stocks rose, and the TOPIX remained in positive territory. Following the trend in U.S. markets, buying led the market at times toward the end of the morning session. At the open, the Nikkei began the morning session at ¥64,724.81, rebounding from the previous day.