Tokyo trading following the holiday moved narrowly around the previous session's close. As crude oil prices rose and U.S. stocks moved lower, semiconductor-related stocks were bought and supported the market. The impact of real demand remained a concern.
In morning trading in the Tokyo stock market following the holiday, the Nikkei Stock Average moved narrowly around the previous session's close. Market participants remained cautious as they closely watched developments in the U.S. market and movements in crude oil prices.
The rise in crude oil futures prices was also a factor, affecting the overall direction of the market. Meanwhile, reports that major stock indexes had all fallen in the U.S. stock market raised concerns that the trend would spread to the Japanese market.
However, U.S. semiconductor stocks rose, and some related stocks in Japan were bought, becoming a drag on the market. By sector, some semiconductor-related stocks showed signs of supporting the market.