The Nikkei 225 extended its gains sharply against a backdrop of higher U.S. stocks. Buybacks prevailed as concerns over semiconductors eased, and the morning session ended at ¥60,475.78, with estimated trading volume of 1.3 billion shares.
Following sharp gains in the U.S. market, the Nikkei 225 also opened significantly higher in Japan, opening the morning session up ¥596.78 at ¥59,372.28. Buying led the way in semiconductor-related and AI-related names in Tokyo against a backdrop of gains in the Nasdaq Composite and SOX indexes.
Among individual stocks, SoftBank Group and semiconductor-related names posted notable gains, while Kikkoman and Ajinomoto declined. By sector, nonferrous metals, banks and electrical equipment rose, while other financial services, foods and land transportation declined.
The focus for the afternoon was whether the Nikkei 225 could hold the 60,000 level and how profit-taking sales would develop amid the rapid expansion in the day's price range compared with the previous day. The Economic Watchers Survey was due to be released at 14:00, while domestic long-term interest rates and the results of the 30-year government bond auction were expected to be market factors.
In the United States, the consumer price index was scheduled to be released that night, and trading in major stocks was expected to be mixed as investors watched movements in U.S. interest rates and foreign exchange rates.