The Nikkei Average extended its gains in the Tokyo market on the 6th, closing the morning at ¥70,081.53 and reaching the ¥70,000 level for a second consecutive day. Despite rising long-term interest rates, funds flowed into a broad range of sectors on expectations for corporate earnings.
In the Tokyo stock market on the 6th, the Nikkei Stock Average extended its gains, closing the morning at ¥70,081.53, up ¥134.67 from the previous day. It remained above ¥70,000 for a second consecutive day.
Even as long-term interest rates in Japan and the US rose, funds flowed into a broad range of sectors, including semiconductors. Market views that investors were positioning themselves ahead of an earnings-driven market have been spreading.
The current high is at a level not seen since July, but some observers say it has a different kind of strength from the summer high.
Ueno Hiroyuki (上野 裕之) of Sumitomo Mitsui Trust Asset Management said the latest high is supported by underlying fundamentals.