The Nikkei Average opened the afternoon session in the ¥66,900 range and remained range-bound near its highs, with AI- and semiconductor-related stocks pushing the index higher. AI and semiconductor stocks continued to lead the market, as they had in the morning session.
At the afternoon-session open, the Nikkei Average started sharply higher from the previous business day in the ¥66,900 range and remained range-bound near its highs. AI-related and semiconductor stocks pushed the market higher.
At the morning close, the Nikkei Average was up 1,324.77 points from the previous day at 66,931.48, while the TOPIX stood at 4,107.14. Trading volume was approximately 1.2 billion shares and trading value was approximately ¥4.7802 trillion, reflecting the strength of the Japanese market. Advancing stocks accounted for 69% of the total, while 30% declined.
By sector, services and precision instruments rose, while oil and coal products and insurance declined. The Standard TOP20 rebounded, and growth stocks also extended their gains.
As of 10:03 a.m., the Nikkei Average's gain had widened. Tokyo-market trading was being led by AI- and semiconductor-related stocks, following a retreat in expectations for U.S. interest-rate hikes after the U.S. Department of Labor's July jobs report came in below expectations. The index opened at 65,905.10, rebounding from the previous session.