The Nikkei 225 traded firmly around ¥66,550 in the Tokyo market on the 28th, up ¥420 from the previous day. It surged as much as ¥710.84 at one point in the afternoon session, as semiconductor-related stocks lifted the index.
The Nikkei 225 extended its gains in the Tokyo stock market on the 28th, trading around ¥420 above the previous day's level at about 12:47 p.m. Buying prevailed in the afternoon session, pushing the index as high as ¥66,842.82 at 12:30 p.m., although trading has since become somewhat subdued. Buying in cash equities provided support as investors watched overseas markets and movements in Japanese and US interest rates and foreign exchange. TOPIX also rose sharply as a result.
Semiconductor-related stocks stood out among the leading contributors to the Nikkei 225's performance, with Advantest, Recruit Holdings and Taiyo Yuden among the top contributors. The extent to which semiconductor-related stocks are lifting the index has become increasingly clear. Kioxia Holdings, Fast Retailing and Fujikura, meanwhile, were negative contributors, weighing on market balance.
The Tokyo Stock Price Index (TOPIX) rose 43.54 points from the previous day to 4,160.76. By sector, Other Products, Services and Electric Appliances posted notable gains. Taiyo Yuden, Fujitsu, NEC and Nintendo were among the leading stocks by trading value. Afternoon volume was 966.49 million shares, while trading value was ¥3.8477 trillion.
The dollar-yen exchange rate traded in the ¥159 range per dollar. Nikkei 225 futures strengthened during the lunch break, moving in a range of ¥66,560 to ¥66,800 and supporting cash equities in the afternoon session. Some market participants said they wanted to assess tonight's speech by Warsh, Chair of the Federal Reserve.