The Nikkei Average rebounded after falling in early trading during the morning session on the 28th and was trading around ¥350 above the previous day’s level. Dip buying increased against the backdrop of strong earnings in the U.S. market, with broad-based gains led by shipping and services stocks by sector.
The Nikkei Average was trading around ¥350 above the previous day’s level during the morning session on the 28th. It was initially weak but subsequently attracted dip buying and turned higher.
The index reached a high of ¥66,589.08 at 9:30 a.m., with the rebound in the NY Dow and Nasdaq Composite in response to strong earnings in the U.S. market on the 27th local time also having an impact.
By sector, 22 of the 33 sectors rose and 11 fell. Shipping stocks such as NYK Line and Kawasaki Kisen Kaisha, and services stocks including Dentsu Group and Recruit Holdings, rose. Meanwhile, nonferrous metal stocks and some financial stocks declined.
In the Tokyo foreign exchange market, the dollar was trading in the lower ¥159 range and the euro in the mid-¥185 range.