The Tokyo market extended its advance for a fourth straight day, but after buying of AI-related stocks led the rise, profit-taking emerged and the TOPIX edged lower.
In the Tokyo stock market, which extended its advance for a fourth straight day, the Nikkei Stock Average ended up ¥495.04 from the previous day at ¥65,513.99. Buying of AI- and semiconductor-related stocks supported the market, pushing the index up more than ¥1,200 at one point. However, selling by investors waiting for an opportunity to lock in gains left the TOPIX down 15.84 points at 4075.30. Trading volume was approximately 2.49306 billion shares, while trading value was approximately ¥9.2038 trillion.
In the foreign exchange and interest rate markets, the dollar rose to the lower ¥158 range against the yen, while the euro strengthened against both the yen and the dollar. In the bond market, the 10-year Japanese government bond yield, a benchmark for long-term interest rates, rose to 3.075%, and bond futures extended their decline in the afternoon session. The unsecured overnight call rate in the short-term money market stood at 1.227%, indicating an increase of around 0.25 percentage point.
In the commodities market, Tokyo crude oil futures rebounded sharply, with the settlement price rising to ¥85,710. Gold futures on the Osaka Exchange fell sharply for the first time in 4 days, with the benchmark contract declining to ¥22,375.
Economic data showed that nationwide convenience-store sales in August rose 0.3% year on year to ¥1.0363 trillion, while prices of pre-owned condominiums in Tokyo fell for the first time in 2 years and 4 months. Crude steel production increased at a pace exceeding the previous year. In remarks by officials, Minister of Finance Katayama (片山) said the government would maintain its basic stance since the foreign exchange intervention, while Foreign Minister Motegi (茂木) called for stability in the situation in the Middle East.