The Nikkei Average was initially pressured by profit-taking selling at the open, but expectations for further gains spread on positive factors from the US market, and buying gained the upper hand, sending the index higher.
The Nikkei Average opened on the 7th at ¥75,582.11, down ¥101.87 from the previous day, as profit-taking selling following the previous day's sharp rise led initially. As a result, the opening price remained in negative territory.
The index later moved into positive territory temporarily, supported by expectations for further gains. In the US market on the 6th, the Dow Jones Industrial Average rose for the 4th consecutive session as the 10-year US Treasury yield fell, the Nasdaq Composite set another record closing high, and the S&P 500 also reached a new peak.
The Osaka Exchange settlement price for the Nikkei Average was ¥78,875, down ¥25 from the settlement price on the 6th. In the Tokyo foreign exchange market, the dollar was trading in the low ¥158s and the euro in the low ¥178s.
This report is provided by Wealth Advisor, and the market is now at a stage of watching how developments unfold in response to movements in related markets.