The Nikkei 225 was unable to move higher through the middle of the afternoon session despite opening sharply higher, as gains lost momentum amid a lack of catalysts to push prices higher. Range-bound trading around ¥60,000 was expected to continue. The broader market was supported by buybacks in the morning, including a rebound in SoftBank Group.
The Nikkei 225 opened the afternoon session higher, but gains lost momentum as there were few catalysts to drive it higher, and range-bound trading around ¥60,000 continued. Although buying returned following the sharp morning decline, the market's overall upward momentum was limited.
SoftBank Group, which opened sharply lower in the morning, reversed course, prompting market participants to say that excessive pessimism toward AI investment was being corrected. The Nikkei 225's percentage gain was higher than TOPIX's, with gains in high-priced stocks supporting the market.
At the morning session close, the Nikkei 225 had extended its gain from the previous day, while TOPIX had also risen. By stock count, 59% of issues rose and 38% fell. Trading volume was 1,199,902,000 shares, and trading value was approximately ¥4.0929 trillion.
At the opening, the Nikkei 225 started slightly higher. Financial stocks attracted buying on expectations of higher interest rates, while AI and semiconductor-related stocks also came under selling pressure at times.