The Nikkei Average edged higher in the morning session as investors awaited the release of US CPI data. AI and semiconductor-related stocks remained firm, TOPIX moved into the upper 4,000s, and trading value on the TSE Prime market remained in the ¥4.5 trillion range.
In the morning session on the Tokyo stock market, the Nikkei Average edged up ¥69.96 from the previous day to ¥7,040.18. With the release of the US Consumer Price Index pending, a wait-and-see mood prevailed across the market, limiting movement in the early session.
The index traded within a range from a temporary high of ¥67,144.36 to a low of ¥66,735.76, for a trading range of ¥408.60. Amid mixed expectations of a US rate hike and a focus on the CPI data, Japan's Obon holiday also contributed to a broad wait-and-see mood.
Some AI and semiconductor-related stocks remained firm, and Recruit Holdings hit a new high for a second consecutive day. Resonac Holdings rose, while Sanrio's price movement weakened. TOPIX ended the morning session at 4,114.41 points. Trading value on the TSE Prime market was ¥4.548152 trillion.
Across the market, TSE Prime stocks comprised 814 advancers, 706 decliners and 34 unchanged issues. The gap between the proportions of advancing and declining issues was small, with movements in individual stocks standing out.
A strategist at Nomura Securities' Investment Information Department said it was difficult to take action ahead of the CPI release and indicated that uncertainty over the situation in the Middle East was expected to weigh on the market's upside.