The Nikkei Stock Average extended its gains at the morning opening on the 24th, with its advance briefly widening to more than 900 points against a backdrop of gains in US tech stocks. Advantest, Tokyo Electron and Ibiden were among the stocks that opened higher. Lower oil prices also provided support, while SoftBank Group and others were bought in the Japanese market.
The Nikkei Stock Average extended its gains after opening on the morning of the 24th, rising into the lower ¥65,900 range. Buying in AI-related and semiconductor stocks led the gains in the US market, and buying spread to related stocks in Japan.
Advantest, Tokyo Electron and Ibiden opened higher, while falling oil prices also supported investor sentiment by suggesting an improved outlook for corporate earnings.
In the US market, the Nasdaq Composite Index reached a new high, while the SOX Index also remained firm. Moves in semiconductor stocks with significant contributions to the Nikkei Average helped lift the overall index.
Kioxia, Renesas and Fast Retailing rose, while Recruit, Mitsubishi Corp. and bank stocks such as Mitsubishi UFJ were weak. Among individual stocks, SoftBank Group was at one point up more than 7%.
The TOPIX also rebounded, indicating broad-based buying appetite in the Japanese market.