As of 10 a.m., the Nikkei had pared its decline to around ¥200, trading in the mid-¥68,700 range, with wire stocks providing support. Expectations are also being voiced for an expansion in long-term contracts related to optical fiber.
In morning trading on the Tokyo market on the 2nd, the Nikkei pared its decline, at one point rising to the mid-¥68,700 range, around ¥200 below the previous day's close. Fujikura and other wire stocks performed firmly, providing support for the Nikkei.
Market participants believe buying is coming in as long-term contracts for optical fiber are being signed one after another in Japan and overseas, highlighting the strength of demand. Some said expectations for expanding demand related to AI and semiconductors were also providing a backdrop.
Trading value on the TSE Prime market as of 10 a.m. was approximately ¥2.5194 trillion, and trading volume was approximately 680.37 million shares. By stock, SoftBank Group, Tokyo Electron and Kioxia were lower, while BayCurrent rose. Mitsui Mining & Smelting and Bandai Namco Holdings were higher.