The Nikkei 225 rebounded in morning trading in Tokyo on 4 September, recovering to the ¥64,700 range on a sharp rise in SBG. TOPIX edged lower, while exporters weakened as the yen strengthened.
The Nikkei 225 stood at ¥64,769.74 in morning trading on 4 September, up ¥555.26 from the previous day. SoftBank Group, a subsidiary, rose more than 7% and at one point lifted the index by approximately ¥300 on its own. A sharp rise in Arm Holdings in the U.S. market was seen as a catalyst.
The index opened at ¥64,498.94, up ¥284.46 from the previous day, and subsequently extended its gains, at one point rising by more than ¥600. The market was supported by lower long-term interest rates in the United States and reduced expectations of an early rate hike by the Federal Reserve.
Buying was also prominent in AI- and semiconductor-related stocks, with Tokyo Electron, Kioxia, Fujikura and TDK among those that rose. Fast Retailing and Recruit Holdings also gained. By contrast, auto and trading company stocks fell as the yen strengthened.
The yen strengthened to around ¥155.25 per U.S. dollar, prompting selling in export-related stocks. TOPIX stood 7.56 points lower at 4094.48, with movements in high-priced technology stocks and export-related stocks driving the market.