The Nikkei Average opened down ¥59 but has remained firm around its opening level. Selling prevailed initially against a backdrop of US long-term interest rates, but lower crude oil prices and yen depreciation provided support.
In today’s Tokyo market, the Nikkei Average opened down ¥59. US market trends and movements in long-term interest rates weighed on share prices, with selling prevailing at the open.
The Nikkei remained firm at times after the open. Falling crude oil futures provided support, while some market participants also saw the continuing yen depreciation against the dollar as a potential boost for export-related stocks. With domestic companies continuing to announce quarterly results, appetite for selected stocks remains evident.
Against this backdrop, attention is focused on future developments depending on trends in US and Chinese markets and US long-term interest rates.