Construction stocks including Shimizu Corporation traded lower on the Tokyo market on the 10th as concerns about higher interest rates spread. The Nikkei Stock Average rebounded for the first time in 3 sessions, closing at ¥65,270.95.
The Nikkei Stock Average rebounded for the first time in 3 sessions, closing ¥128.17 higher than the previous day at ¥65,270.95. Intermittent buying of Nikkei futures, believed to have come from overseas institutional investors, supported the market's rise just before the close.
Selling prevailed in the morning amid concerns about a further deterioration in the situation in the Middle East, but buying emerged just before the end of trading, prompting a rebound. The article also mentions Taiwan Semiconductor Manufacturing Company (TSMC)'s August monthly sales on a year-on-year basis.
Against this market backdrop, construction stocks including Shimizu Corporation were seen as relatively undervalued, while investors showed concern about the impact of higher interest rates.