The Nikkei Average edged higher from the previous day in Tokyo trading on the 9th, but elevated crude prices and uncertainty over Iran capped gains. Resilience in the South Korean market also supported investor sentiment at times.
The Nikkei Average was up ¥47 from the previous day as of 1:50 p.m. Although it followed the morning session's trend, there was no major movement, and range-bound trading lacking clear direction continued throughout the day. The yen traded in the upper ¥153 range against the dollar, while investors remained focused on assessing the direction of U.S. interest rates.
Among individual stocks, SoftBank Group, Fujikura and Ibiden were the top positive contributors, each posting substantial gains from the previous day. By contrast, Advantest, Fast Retailing and Tokyo Electron were the top negative contributors, weighing on the Nikkei Average.
By sector, nonferrous metals, oil and coal products, mining, electric power and gas, and machinery led gains. Energy- and resource-related stocks were bought against a backdrop of elevated crude oil prices, while securities and commodities futures, retail, insurance, pharmaceuticals and services weighed on the market.
As of 12:45 p.m., trading volume had reached 1.13179 billion shares and trading value ¥4.9045 trillion, with trading activity remaining firm. Market participants indicated that they wanted to assess developments in the geopolitical risks surrounding Iran, the situation in the Middle East and the release of U.S. economic data.