Against a backdrop of lower crude oil prices and gains in US stocks, the Nikkei 225 rose more than ¥400 during the morning session in Tokyo, with buying spreading across a broad range of stocks. It opened slightly higher, after which the market watched for the next direction.
The Nikkei 225 had risen more than ¥400 from the previous day by 9:55 a.m., with buying spreading across a broad range of stocks against a backdrop of lower crude oil prices and gains in US stocks.
It opened slightly higher at ¥69,954.61, up ¥7.75 from the previous day. Thereafter, buying prompted by gains in US stocks and profit-taking selling offset each other, leaving the index moving in a range around the previous day's close.
Within the market, lower oil prices and the strength of US stocks provided buying catalysts for individual stocks, while the market's subsequent direction may depend on developments in the US market.
The day's movements suggested the relationship between energy-related stocks and lower oil prices, as well as the linkage between domestic and overseas equity markets, with price movements being observed through the middle of the morning session on the 6th.