The Nikkei Average was up approximately ¥1,310 from the previous weekend on the morning of the 7th, with firm trading continuing. Buying led the market, particularly in semiconductor stocks, amid the influence of US markets. Movements in the stronger yen and crude oil prices are also influencing the market.
In the Tokyo market on the morning of the 7th, the Nikkei Stock Average was trading around ¥1,310 above the previous weekend's level. Although expectations of a rate hike in the US resurfaced following the employment report, buying led the market on the strength of semiconductor stocks. The market continued to trade in a narrow range near its intraday high.
By sector, 23 of the 33 sectors advanced and 10 declined. Shipping, steel, electric power and gas, and oil and coal products stocks posted notable gains, while Other Products and bank stocks were soft.
Among individual stocks, machinery stocks such as DISCO and Mitsubishi Heavy Industries, and wholesale stocks such as Mitsui & Co. and Mitsubishi Corporation, were firm. Nonferrous metals stocks such as Sumitomo Electric Industries and Fujikura, as well as electric appliances stocks such as Advantest and Tokyo Electron, also strengthened. By contrast, ASICS, Nintendo and Mitsubishi UFJ were lower.
In the Tokyo foreign exchange market, the dollar was trading at around ¥156 and the euro in the lower ¥181 range. These conditions, together with movements in the Nikkei Average, continued to influence investors' trading decisions.