The Tokyo stock market staged a sharp rebound at the start of the week, with the Nikkei Average temporarily recovering ¥70,000. It closed approximately ¥1,637 higher than the previous day at ¥69,946.86. Immediately after trading began, buying centered on AI- and semiconductor-related stocks drove the index above ¥70,000.
The Nikkei Average (225 issues) staged a sharp rebound in the Tokyo stock market on Monday the 5th, recovering the ¥70,000 milestone during trading for the first time in approximately 3 months. It closed at ¥69,946.86, approximately ¥1,637 higher than at the end of the previous week. Immediately after trading began, buying centered on AI- and semiconductor-related stocks, including Advantest, a major semiconductor testing equipment manufacturer.
The Nikkei Average extended its gain temporarily to ¥70,072.13, with the strength of AI- and semiconductor-related issues pushing the market higher. Market participants said buying had spread on expectations of strong earnings, against a backdrop including higher US stocks.
The Bank of Japan's Tankan short-term economic survey also supported market sentiment by showing improved business conditions among large manufacturers. Tsuboi Hirotake (坪井 裕豪), chief strategist at Daiwa Securities, analyzed that buying was entering in anticipation of strong corporate earnings.