In the middle of the morning session on the 8th, the Nikkei reversed course and turned positive after temporarily falling more than 600 points. Semiconductor-related stocks provided support, with SoftBank Group, Advantest and Tokyo Electron lifting the index.
The Nikkei turned positive from the previous day at around 10:15 a.m., narrowing its decline. Market participants shared the view that the three stocks had lifted the Nikkei by approximately 600 points.
Market participants said that the rise in the Philadelphia Semiconductor Index, or SOX, at the end of the previous week remained a catalyst, with buying flowing into semiconductor stocks. Meanwhile, most Prime Market stocks declined, and the TOPIX remained in negative territory.
Some market participants said that yen appreciation and persistently high crude oil prices were weighing on the tone of the Tokyo market, leaving the overall market subject to bearish factors.
The Nikkei opened down ¥556.15 from the previous day at ¥65,843.69, with selling seen across a broad range of sectors.