The Nikkei Average was up more than ¥470 at the opening, at ¥63,738.98, while TOPIX was up 18.56 points at 4,015.93. Buying in technology stocks led the market immediately after the open, with Taiyo Yuden and Ibiden among the gainers.
The Nikkei Average began trading on the 28th at ¥63,738.98, up ¥470.61, with buying leading the market following the strong performance of U.S. equities the previous day. The Dow Jones Industrial Average was slightly higher, while a sharp rise in the Nasdaq supported the market and provided a buying catalyst for Tokyo stocks.
By sector, nonferrous metals, machinery, electrical equipment and chemicals ranked among the top gainers, while oil and coal products and insurance were among the decliners. The most actively traded stocks on the TSE Prime market included Taiyo Yuden, Ibiden, SUMCO, Murata Manufacturing, Furukawa Electric and TDK, several of which rose.
The results of the U.S. Federal Open Market Committee (FOMC), the European Central Bank (ECB) policy rate decision and the Bank of Japan Monetary Policy Meeting are scheduled to be announced this week. Buying prevailed at the opening as investors sought to assess these developments.
Investors are focused on trends in AI-related and semiconductor-related stocks, as well as whether demand for stocks with positive quarterly earnings catalysts will continue. Uncertainty surrounding the situation in the Middle East, concerns over overinvestment and the risk of information leaks also remain areas of concern.