Against the backdrop of movements in U.S. stocks, the Nikkei Average rebounded sharply in the morning before losing steam in the afternoon. This report covers market levels and stock movements as of the midday close on the 27th, along with the performance of the specified stocks.
At the midday close on the 27th, the Nikkei Average had rebounded sharply for the first time in 4 days, rising ¥1,191.64 from the previous day to ¥63,831.29. The Tokyo Stock Price Index (TOPIX) also extended its gains, rising 23.19 points to 3,996.17. Against the backdrop of movements in U.S. markets, buying of AI-related stocks was believed to have attracted further buying, with buying leading the market in Tokyo, particularly in AI and semiconductor-related stocks.
At 10:15 a.m., the Nikkei Average reached an intraday high of ¥63,684.69, up ¥1,495.04, before losing steam as selling emerged from investors waiting for a rebound after the initial buying ran its course. Buying and selling by investors were seen to intersect under the influence of overseas markets.
Trading volume on the TSE Prime Market was 987.67 million shares, and trading value was ¥3.4242 trillion. Among individual stocks, 702 rose, 802 fell and 47 were unchanged, with decliners slightly outnumbering advancers. By sector, 15 of the 33 sectors rose and 18 fell.
Nonferrous metals and electrical equipment stocks were prominent among the gainers, including Mitsui Mining & Smelting, Sumitomo Electric Industries, Advantest, Tokyo Electron and Nitto Boseki. Meanwhile, real estate and pharmaceutical stocks stood out among the decliners, including Mitsui Fudosan, Mitsubishi Estate, Chugai Pharmaceutical and Daiichi Sankyo. Other gainers included Shin-Etsu Polymer, Waseda Academy, Ibiden, SAMCO and Meiko Electronics.