The Nikkei Stock Average opened higher for a second straight session at ¥67,106.52, up ¥352.80 from the previous day, as buying in semiconductor-related stocks prevailed and pushed it above the recent rebound high.
At the opening, the Nikkei was up ¥352.80 from the previous day and started at ¥67,106.52. Micron Technology's earnings exceeded market expectations, prompting buying in semiconductor-related stocks and pushing the index higher. The Nikkei has moved above the rebound high of ¥67,034.74 reached on 28 September.
Among individual stocks, Tokyo Electron opened with buy indications, while Advantest and SoftBank Group were also firm. Fast Retailing was slightly higher, while Toyota Motor was lackluster and bank stocks including Mitsubishi UFJ Financial Group started weak.
The focus for the market as a whole is whether the strength of semiconductor stocks will continue, with the reaction to Micron's earnings and trends in other sectors potentially influencing developments ahead.
The Nikkei's break above the recent rebound high has strengthened momentum in intraday trading.