In morning trading on the Tokyo Stock Exchange, the Nikkei Average rose more than ¥1,200 from the previous day and extended its gains. While buying was concentrated in AI-related stocks, TOPIX traded in negative territory.
As of 10:11 a.m., the Nikkei Average was up more than ¥1,200 from the previous day, with continued buying of semiconductor-related stocks and others after the open pushing up the market's overall gain. Against the backdrop of Micron's strong results this morning, the trend in U.S. tech stocks carried over, and Advantest, Tokyo Electron, SoftBank Group and Ibiden were the 4 stocks that at times led the market.
Meanwhile, the Nikkei's gain was concentrated in these 4 stocks, while many Prime Market stocks declined. TOPIX remained in negative territory, and views emerged that uncertainty over the situation in the Middle East and persistently high global interest rates were weighing on Japanese equities as a whole.
The Nikkei began the morning session up ¥352.80 from the previous day, while moves in U.S. tech stocks and buying of semiconductor-related stocks continued. Market participants said that AI-related stocks were being bought selectively, but that the market was weak overall.