The Nikkei 225 rebounded for the first time in 7 sessions at the midday close in Tokyo. The market posted broad-based gains led by semiconductor stocks, with investors focusing on the market’s reaction to the previous day’s sharp drop.
The Nikkei 225 rose ¥1,124.73 from the previous day to ¥65,550.68 in morning trading, rebounding for the first time in 7 trading sessions.
Some market participants viewed the previous day’s sharp decline as excessive, prompting investor buybacks.
A broad range of stocks, led by semiconductor issues, attracted buying, and the market was reported to have posted broad-based gains.