The Nikkei edged lower in morning trading on the Tokyo Stock Exchange but briefly recovered ¥67,000. Buying was led by AI-related and semiconductor stocks, while positioning for interim dividend rights was also cited as a factor.
The Nikkei fell 0.05% from the previous day to 66,333.53 yen in morning trading on the Tokyo Stock Exchange, but briefly recovered the ¥67,000 level. AI-related and semiconductor stocks led buying, supported by developments in U.S. markets and positioning for interim dividends.
After reaching the ¥67,000 level, the Nikkei became range-bound again as profit-taking emerged amid a sense of achievement. The decline in South Korea's KOSPI and U.S. stock futures was also seen weighing on investor sentiment.
The TOPIX ended the morning session up 0.16% at 4,135.38 points, while trading value on the TSE Prime Market was ¥3.811876 trillion. Fourteen sectors, including insurance, banks and machinery, rose, while 19 sectors, including fabricated metals, pharmaceuticals and mining, fell.
Hitoshi Asaoka (浅岡均) of Asset Management One said that buying for dividend rights had been seen, but reaching the level during the day had created a sense of achievement. He also said the market was waiting for earnings announcements.