The Nikkei 225 opened sharply higher at the afternoon session opening on the 7th, but gains lost steam as investors took profits in semiconductor and AI-related stocks. The index had extended its gains sharply in the morning session on favorable developments in the US market.
The Nikkei 225 afternoon session opened up ¥1,148.83 from the previous trading day at ¥66,169.77. Buying initially led the market, particularly in AI-related stocks, but gains lost steam as profit-taking and selling by investors awaiting a rebound emerged.
At the morning close, the Nikkei 225 was up ¥1,439.17 from the previous day at ¥66,460.11, a sharp increase. Buying reportedly concentrated in AI-related stocks following favorable news for semiconductor shares in the US market. The TOPIX stood at 4,128.53, while trading volume was 961.50 million shares and turnover was ¥3.9584 trillion.
By sector, marine transportation, nonferrous metals, glass and ceramics products rose, while services, banks, retail and foods fell. The Standard TOP20 extended its gains, while the Growth market edged lower, reports said.
The market opened near the morning session's highs, with semiconductor and other artificial intelligence-related stocks pushing up the Nikkei 225, although around 40% of Prime-listed stocks were lower.