The Nikkei rebounded in morning trading on the Tokyo Stock Exchange on the 4th, closing the morning at ¥64,769.74. Technology stocks rose on the spillover from gains in U.S. stocks and short-covering.
The Nikkei rebounded in the Tokyo market, at one point rising by more than ¥600. Gains in major U.S. stock indexes spilled over into the Tokyo market, broadening buying centered on technology stocks. As the market had fallen for 4 consecutive days through the previous day, short-covering also emerged in stocks perceived as undervalued.
The morning close was ¥64,769.74, up ¥555.26 from the previous day's close. The Tokyo Stock Price Index (TOPIX) fell 7.56 points to 4,094.48.
In the U.S. market, remarks by Federal Reserve Governor Waller led to a broadening view that expectations of an early rate hike would recede, strengthening buying of equities.