The Nikkei Stock Average rebounded sharply on the morning of the 5th, briefly recovering the ¥70,000 level. Gains in U.S. stocks spilled over, and buying spread to AI and semiconductor-related stocks.
The Nikkei rebounded sharply in the Tokyo stock market at the start of the week, with buying spreading on the back of gains in U.S. stocks at the end of the previous week. The Nikkei briefly recovered the ¥70,000 level, reaching its highest level in 3 months.
As of 10:30 a.m., the Nikkei had risen to ¥69,969.38, up ¥1,659.92 from the end of the previous week.
In the U.S. market, expectations for an early rate hike by the Federal Reserve reportedly receded following the employment data, prompting buying centered on AI and semiconductor-related stocks. The decline in crude oil prices following the emergency release from oil reserves also provided support.