The Nikkei 225 opened ¥399.17 higher at ¥64,724.81, beginning a rebound. With a view gaining ground before the market opened that a rebound in U.S. stocks and a dovish-leaning decline in long-term interest rates had lifted the market, stocks including ORIX and Mitsubishi Corporation were bought.
The Nikkei 225 opened ¥399.17 higher at ¥64,724.81. Buying prevailed against the backdrop of a rebound in U.S. stocks the previous day, while the market remained firm throughout the day on lower long-term interest rates and falling oil prices. In Tokyo, there was also buying in anticipation of a technical rebound following the declines through the previous day.
By sector, oil and coal products, securities and commodities futures, other financials, wholesale trade and steel ranked among the top gainers. Mining, real estate, fisheries, agriculture and forestry, fresh food and food products, and construction, meanwhile, tended to decline. In weekly inward and outward securities transactions released before the market opened, overseas investors were net buyers for the first time in 2 weeks.
Among the TSE Prime stocks with the highest trading value, ORIX, Resonac, Mitsubishi Corporation, ITOCHU and Nippon Steel maintained their gains. Japan Airport Terminal, Fast Retailing, INPEX and Nintendo, by contrast, fell.
The day's moves reflected the impact on Japanese stocks of the U.S. market's opening, trends in long-term interest rates and movements in the yen. Market participants are watching whether the buying-dominated conditions seen at the open will continue.