The Nikkei average closed sharply higher in the afternoon session on the 28th, up more than ¥685. Although gains widened at one point in the afternoon, a stronger wait-and-see stance toward the end capped the upside. The move was driven by positioning ahead of developments following the US FOMC meeting and the Bank of Japan's policy meeting on the 29th.
In Tokyo trading on the 28th, the Nikkei average rose sharply for a second consecutive session, gaining ¥685.82 from the previous day to ¥603,954.19. Trading volume on the TSE Prime Market was 2.3821 billion shares, and trading value was ¥8.0742 trillion. Meanwhile, TOPIX fell 48.66 points from the previous day to 3,991.71, reversing into a decline at the close. Buying led at the start of the afternoon session, but selling by investors waiting for a rebound was also seen at 12:34 p.m. The dollar was trading around ¥157.
By sector, 10 of the 33 sectors rose and 23 fell. Glass and stone products, nonferrous metals, electrical equipment, machinery, chemicals, metal products, precision instruments and banks were firm, while insurance, food and oil and coal products declined. Among individual stocks, Advantest, Tokyo Electron, Disco and SMC traded firmly.
In the afternoon session, Advantest, Suntech and Toei Animation attracted attention, while investors continued to assess developments at the Bank of Japan's policy meeting and the impact of US monetary policy. Selling by investors waiting for a rebound emerged at times across the broader market, highlighting the market's limited upside.
In the Nikkei contribution ranking, specific stocks showed strong influence as they supported the sharp extension of gains, making this a phase in which individual share price movements affected the index.