Tokyo stocks extended their gains on buying of AI- and semiconductor-related stocks. The Nikkei Average opened up ¥379.43 and had risen by more than ¥1,300 from the previous day as of 9:54 a.m.
The Nikkei Average opened up ¥379.43 from the previous day at ¥62,569.08, starting a rebound, while buying spread across AI- and semiconductor-related stocks in response to the U.S. market trend. An executive at a major securities firm said that the emergence of AI- and semiconductor-related market factors for the first time in some time had become a catalyst for buying and was leading the Nikkei Average higher.
Meanwhile, defensive stocks that had been bought through the previous day also came under selling pressure, leaving about 53% of stocks in the Prime Market higher. The prevailing view is that moves in AI- and semiconductor-related stocks are driving the market overall.
The day's moves are believed to have followed the trend in the U.S. market overnight, with buying of AI- and semiconductor-related stocks attracting investor attention. Some market participants expect the Nikkei Average to remain in the high-price range, although it could fluctuate depending on moves in individual stocks.