The Nikkei Average extended its gains on buying in semiconductor-related stocks. The index ended the morning session in the ¥66,400 range, with buying taking the lead despite developments in the US market.
The Nikkei Average ended the morning session at ¥66,460.11, up ¥1,439.17 from the previous day. Estimated trading volume was 961.5 million shares, and buying spread from semiconductor-related stocks after the open, widening the Nikkei's gains.
Although the Dow and Nasdaq fell in the US market at the end of last week, Japanese stocks led the advance from the open. While rising long-term interest rates remained a concern against a backdrop of higher crude oil prices and expectations for an improvement in employment data, buying spread mainly across semiconductor stocks, and the market traded near its morning high.
Among individual stocks, Advantest, SoftBank Group, Tokyo Electron, Ibiden and Kioxia Holdings advanced. Some stocks, including Sony Group, Konami Group, Recruit Holdings and Nomura Research Institute, declined.
By sector, marine transportation, nonferrous metals, glass and stone products advanced, while services, other products, fisheries, agriculture and forestry declined. In the afternoon session, the Nikkei is expected to trade in a narrow range near its highs, with the level around the 75-day moving average as a guide, although caution will remain depending on US inflation data.