The Nikkei 225 started slightly higher in Tokyo trading on the 12th, with export-related stocks bought on the back of a weaker yen. The index briefly fell into negative territory, making for volatile trading.
The Nikkei 225 opened at ¥66,994.05, up ¥23.83 from the previous day, with buying led by export-related stocks amid the weaker-yen, stronger-dollar trend.
The index subsequently struggled to extend its gains, moving around the previous day's level throughout the session and briefly turning negative. Market participants saw the trading range as ¥66,800 to ¥67,500.
Against the backdrop of US stock market trends, a rebound in the SOX Index was said to have provided reassurance for buying in Tokyo and influenced the Nikkei 225's movements.
The September CME Nikkei futures contract closed at ¥67,065, up ¥340 from the previous day, with the settlement price ¥95 below the Osaka Exchange settlement value.
In foreign exchange trading, the yen weakened to the low ¥159s against the dollar and the high ¥183s against the euro, supporting expectations of improved earnings at export-related companies.
Among ADRs, Furukawa Electric, Sumitomo Electric and Fujikura ended at lower levels, pointing to selling pressure at the open.