The Nikkei Average rose nearly ¥69 in the morning session, with buying led by U.S. stocks and the weaker yen. Some selling emerged toward the end of the session, but moves in semiconductor-related stocks supported the index, leaving the market firm overall.
Japanese stocks were firm in the morning session, with the Nikkei Average up ¥69.96 from the previous trading day at ¥67,040.18. The TOPIX rose 13.80 points to 4,114.41, extending its winning streak to 6 sessions. Although the Dow and Nasdaq fell in the U.S. stock market, the Nikkei Average briefly rose to ¥7,144.36 at 9:07 a.m., supported by the weaker yen. A recovery in semiconductor-related stocks supported the index.
Across the market, trading volume on the TSE Prime Market was 11.80884 billion shares and trading value was ¥4.5734 trillion. The numbers of advancers and decliners were 814 and 706, respectively, indicating a divergence between positive and negative performance.
By sector, many industries, including mining, banking, services, electrical equipment and chemicals, rose, while textiles and pharmaceuticals declined. The biggest movers included IND (no example provided).
Improved earnings and solid earnings outlooks announced by companies that day provided a cue for trading, which remained firm overall in the morning.
The weaker yen was maintained during the morning, supporting investors' appetite for buying. The market's subsequent direction may be influenced by stock rotation and new earnings information in the afternoon session.