The Nikkei 225 rose for the 3rd straight day in afternoon trading. While gains in semiconductor-related stocks led the market higher, a decline in SoftBank Group influenced the market's direction.
In afternoon trading, the Nikkei 225 carried over its morning gains and moved around the ¥60,000 level as investors looked for direction. The Nikkei 225 reached ¥60,942.48 and was up +482.90 from the previous day.
While gains in semiconductor-related stocks supported the market, SoftBank Group's announcement of a substantial net loss in its results released the previous day became a selling factor. In the U.S. market, an upside surprise in CPI and optimistic remarks from Fed officials were reported, sending Treasury yields higher.
The weaker yen and stronger dollar were seen as a factor supporting earnings expectations for export-related stocks, with the Nikkei 225 having risen by more than approximately ¥3,000 over the 2 business days through the previous day. Taisei Corporation, Mitsui Chemicals, ENEOS and others are scheduled to announce earnings in the afternoon, and reactions to individual company developments are expected to influence the market's direction.
Going forward, attention is also expected to focus on reactions to selling by investors waiting for a rebound and short-term profit-taking.
Based on NH reporting, market participants are focusing on developments involving semiconductor-related stocks and earnings announcements.