The Nikkei Stock Average rose sharply in the morning session, gaining ¥1,602.09 from the previous day for a strong continuation of gains, as buying in AI and semiconductor-related stocks led the market. The yen was in the upper ¥158 range against the US dollar, indicating a weaker-yen trend, while the TOPIX also edged higher.
In the morning session on the Tokyo Stock Exchange, the Nikkei Stock Average rose sharply to ¥68,355.81, up ¥1,602.09 from the previous business day. It temporarily reached ¥68,359.41 during trading, recovering to the ¥68,000 range for the first time in around 1.5 months. AI-related and semiconductor-related stocks were bought following strong earnings from US-based Micron Technology, resulting in broadly firm trading.
Trading volume on the TSE Prime Market was 1.12202 billion shares and trading value was approximately ¥3.9377 trillion, indicating active trading. There were 515 advancers, 992 decliners and 42 unchanged issues. By sector, 10 of the 33 sectors rose and 23 fell, with electrical equipment and precision instrument stocks among the notable gainers.
Information and communications stocks such as Capcom and SoftBank Group, semiconductor and metal products stocks, and chemical stocks were bought. Glass and ceramics stocks, including Nitto Boseki and MARUWA, also traded firmly. Meanwhile, insurance and banking stocks including Dai-ichi Life Holdings, Tokio Marine, Mitsubishi UFJ and Sumitomo Mitsui fell, at times weighing on the market.
For the afternoon outlook, stocks such as Lasertec and Murata Manufacturing were expected to rise into the afternoon session, with semiconductor-related developments expected to continue leading the market. Regarding the broader market, it was suggested that equity indexes could remain at elevated levels as the weaker-yen trend in foreign exchange continues.