Buying led the way in the Tokyo stock market following gains in US share prices, with the Nikkei Average reaching 64,769.74 at the morning close, up more than 555 points from the previous day. Meanwhile, the yen continued to strengthen, weighing on automobile stocks.
The Nikkei Average stood at 64,769.74 at the morning close on the Tokyo Stock Exchange on 4 September, up 555.26 points from the previous day. AI-related and semiconductor stocks gained in Japan against a backdrop of gains in US equities in the previous session.
The retreat in expectations for further interest-rate hikes following a speech by FRB Governor Waller has been cited as a factor behind the rise in US share prices, with major stock indexes reportedly rising broadly as a result. This prompted buying in IT-related stocks in Japan as well.
However, the yen continued to strengthen in the foreign exchange market, weighing on automobile and other stocks.