The Nikkei rose for a second consecutive session in the Tokyo market against a backdrop of lower crude oil prices and other factors, closing more than ¥737 higher than the previous day. Ahead of the earnings season, expectations for corporate performance acted as a catalyst for buying, while semiconductor-related and electronic component stocks remained firm.
The Nikkei opened up 0.01% from the previous day, briefly turned slightly lower, then quickly rebounded and remained in positive territory. Gains accelerated toward the end of the session, with the index closing at ¥70,683.98.
Semiconductor-related stocks, electronic component-related stocks and some large-cap stocks with a high contribution to the index remained firm and pushed up the market, while trading based on company-specific catalysts was also active.
The Nikkei moved higher again in the afternoon session, rising as much as ¥851 toward the close, while TOPIX also remained firm. Trading value on the Prime Market exceeded ¥7.3048 trillion, and the TSE Prime Market Index also rose.
Some market participants said the US employment data had been viewed as a market factor and that expectations for an early rate hike in the United States had receded, while others said additional catalysts would be needed for further gains.