The Nikkei rose for a fifth straight session, closing at ¥66,364.20. Gains in semiconductor-related stocks lifted the index, while buying in bank stocks contributed to the rise in TOPIX.
The Nikkei rose more than ¥850 from the previous session in Tokyo trading, marking its fifth consecutive gain and closing at ¥66,364.20. Gains in semiconductor-related stocks led the broader market and also helped lift TOPIX.
Rising domestic interest rates weighed on share prices at times in the morning, but the market gradually moved higher as the rise in crude oil prices paused. Gains in stocks such as Advantest, Tokyo Electron and Ibiden supported the index. Buying also spread to bank stocks, with purchases driven by expectations of higher interest rates and a focus on dividends increasing their contribution to TOPIX.
TOPIX, which reflects the overall market trend, posted a gain of roughly the same magnitude as the Nikkei, while trading value on the Prime Market came to approximately ¥7.8 trillion. By sector, gains in banking, securities and other financial stocks stood out, while some stocks in information and communications and construction declined.
Emerging markets were soft, led by small-cap stocks. A newly listed stock on the Standard Market opened above its offering price but closed below its opening price. On the Tokyo Stock Exchange Prime Market, advancing issues outnumbered declining issues, and share prices were generally firm.