At the opening of the morning session on the 7th, the Nikkei Stock Average extended its advance on the Tokyo stock market, trading in the 66,200 range, up about 1,200 points from the previous Friday. Semiconductor-related stocks rose notably on the strength of U.S. semiconductor stocks.
The Nikkei Stock Average was up about 1,200 points during the morning session, trading in the 66,200 range. Following buying of semiconductor-related stocks in the U.S. market, buying led gains in high-priced semiconductor-related stocks in the Tokyo market.
In the U.S., the SOX Index, comprising major semiconductor stocks, closed up 3.37%. Reports that Micron Technology had begun considering doubling its HBM production capacity lifted the index.
In the Tokyo market, Tokyo Electron, Advantest, Kioxia Holdings and SoftBank Group advanced. The Tokyo Stock Price Index (TOPIX) also extended its advance, while some other stocks declined.
All 3 major U.S. stock indexes fell. The decline came as long-term interest rates rose after solid results in the August jobs report strengthened expectations of an early rate hike by the Federal Reserve.