With U.S. CPI viewed as benign and U.S. stocks higher, the Nikkei Average extended its gains from the open. TOPIX updated its intraday high. AI- and semiconductor-related stocks were the market focus.
The Nikkei Average opened 0.75% higher from the previous day at ¥68,033.17, extending its gains. The U.S. consumer price index (CPI) was viewed as a benign result, while gains in semiconductor stocks in the U.S. market were seen as a positive catalyst.
AI-computing and semiconductor-related stocks Advantest, Tokyo Electron and SoftBank Group traded firmly, and the Nikkei Average rose as much as approximately 1.8% to the upper ¥68,700s. TOPIX updated its intraday high.
Among major stocks, Toyota Motor was flat, while Sony Group edged lower. Fast Retailing also traded slightly lower.
Following the day's moves, the Japanese market at times traded with a firmer tone, but continued caution is warranted regarding long-term trends and how developments will be reported going forward.