The Nikkei 225 rebounded in the morning session, rising ¥1,324.77 from the previous day to ¥66,931.48, its first advance in 3 sessions. TOPIX also rose as higher US stocks and a weaker yen provided support, keeping the market firm.
The Nikkei 225 rose ¥1,324.77 from the previous weekend in the morning session to ¥66,931.48, marking its first rebound in 3 sessions. The Tokyo Stock Price Index (TOPIX) rose 32.21 points to 4,107.14, extending its advance for a fifth consecutive session. In the US market, expectations for an early rate hike receded following weaker-than-expected July employment data, and the Dow rebounded. This flow of buying carried over into the Japanese market.
The dollar was in the low ¥158s against the yen and had moved toward a weaker yen from the morning level. The Nikkei 225 reached an intraday high of ¥67,006.84, up ¥1,400.13, at 10:53 a.m. and continued to trade near its highs.
Trading volume on the TSE Prime Market was 1.20625 billion shares, with turnover of ¥4.7802 trillion. There were 1,067 advancing issues, 461 declining issues and 26 unchanged issues. By sector, advances predominated, with service, precision instruments, nonferrous metals and rubber products stocks among the gainers, while petroleum and coal products and insurance stocks were relatively weak.