In the morning session of the Tokyo stock market on the 5th, the Nikkei Stock Average rebounded and rose into the ¥69,700 range. It was more than ¥1,400 higher than at the end of the previous week, with buying spreading to major stocks on the back of gains in US stocks.
The Nikkei Stock Average opened higher in the Tokyo market on the 5th and traded in the ¥69,700 range. It was the first time in about 1.5 months that it had exceeded the ¥69,000 mark during trading hours.
Following gains in US stocks, buying led the Tokyo market on the 5th, particularly in semiconductor-related stocks. The Dow Jones Industrial Average ended up $250 from the previous day, while the SOX Index rose more than 2%. The view that expectations for an early additional rate hike by the Federal Reserve had receded following the US employment data provided a catalyst for buying across the market.
Advantest, Tokyo Electron and SoftBank Group were among the major stocks that rose and pushed up the Nikkei, while Recruit, BayCurrent and Lasertec were somewhat weak.
The TOPIX also rebounded. TDK, Kyocera and Fast Retailing rose, while performance varied among related stocks. Developments in the US market and corporate earnings are expected to remain the focus of the market.