The Nikkei 225 started the afternoon session at 70,230.80, up ¥283.94 from the previous day’s close. The article reports chronologically on the afternoon-session opening and the moves in rising sectors and stocks.
The Nikkei 225 started the afternoon session with gains slightly wider than at the morning close, standing at 70,230.80. Nikkei 225 futures remained within the lunchtime range, while dollar/yen was generally stable in the ¥157.9 range. Buying led across the market overall, although rising long-term interest rates remained a concern.
By sector, nonferrous metals, steel and insurance posted the largest gains, while construction, information and communications, and machinery were among the biggest decliners. Stocks among the leading TSE Prime Market names by trading value included Meiko, Nitto Boseki, ASICS, JX Advanced Metals, Mitsui Kinzoku, Fujikura, Advantest, Tokio Marine, Recruit Holdings and Taiyo Yuden, with buying generally taking the lead.
In the afternoon session, the firm tone relative to the morning close continued, and buying spread further at the opening. There was also speculation that trading in individual stocks had become more active against the backdrop of overseas market movements and the pace of the Nikkei 225’s rise.
The market’s basic backdrop was the widening dispersion between sectors amid the Nikkei 225’s sharp rise, with trading concentrated in individual names. Additional economic data releases and long-term interest-rate trends are expected to be the market’s focus going forward.