Japanese stocks opened higher, with the Nikkei 225 up ¥399.17 at ¥64,724.81. Buying was led by stocks including ORIX and Mitsubishi Corporation, against a backdrop of a rebound in US equities.
The Nikkei 225 opened on the 3rd at ¥64,724.81, up ¥399.17, rebounding for the first time in 4 sessions. The previous day's rebound in US equities supported the market overall, with the Dow Jones Industrial Average in New York ending up $295.07 and the Nasdaq up 118.05 points. Buying prevailed after the open, apparently supported by expectations of lower long-term interest rates and a sense that crude oil prices were losing momentum.
By sector, oil and coal products, securities, other financial services, wholesale trade and iron and steel ranked among the top gainers, while mining, real estate, fisheries, agriculture and forestry, food products, and construction saw notable declines. Stocks cited as driving the Nikkei 225's moves included ORIX, Resonac, Mitsubishi Corp., Itochu, Nippon Steel, Kubota, Tokio Marine, Mitsubishi Heavy Industries, Mitsui & Co., IHI, Taiyo Yuden, Resona Holdings, Renesas, Recruit Holdings and Honda.
As of the Nikkei 225's opening on the 3rd, overseas investors had been net buyers of domestic stocks in trading from 23 to 29 August, marking their first net buying in 2 weeks, with net purchases of ¥35.8 billion. Amid a mix of domestic and overseas factors, the yen moved in the direction of yen appreciation and dollar depreciation toward the ¥158.80 range, but buying remained dominant at the open.
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