On the morning of the 13th, the Nikkei Stock Average posted sharp gains, while the Tokyo Stock Price Index (TOPIX) also set a new intraday high. Buying led by semiconductor-related stocks, and the Nikkei was trading more than ¥509 higher than the previous day at the open.
The Nikkei Stock Average posted sharp gains in the morning session, opening at ¥68,033.17, up ¥509.11 from the previous day. Following the trend in U.S. markets, buying led by semiconductor-related stocks. The Nikkei's gain exceeded ¥1,200 at one point.
Meanwhile, TOPIX rose more than 40 points during trading hours, setting a new intraday high. TOPIX had risen for 6 consecutive sessions through the previous day and was trading near its record high, prompting what appeared to be profit-taking sales.
Across the market, approximately 40% of Prime Market stocks were trading lower, and buying and selling continued to intersect. Some attributed the gains to rising bank stocks, with expectations of a Bank of Japan rate hike and demand for funds cited as contributing factors.
Following the day's movements, attention turned to whether the strength of the market, led by semiconductor-related stocks, would continue in the Nikkei and TOPIX. Subsequent reports will continue to closely monitor the market's response.