Tokyo stocks rebounded sharply at the morning close. Risk aversion eased on gains in US semiconductor stocks, prompting broad-based buybacks centered on semiconductor-related stocks.
The Nikkei Stock Average rose ¥1,976.57 at the morning close to ¥59,411.34. Morning trading volume was estimated at 133,023 ten-thousand shares, and trading value was ¥4.2035 trillion. There were 1483 advancing issues, 60 declining issues and 5 unchanged issues.
In the morning session, buybacks centered on AI and semiconductor-related stocks gathered pace. Although the Nikkei faced resistance on the upside at times after opening, it consistently expanded its gains once selling subsided. The sharp rise in the US market's SOX Index reportedly eased risk aversion.
Among individual stocks, Advantest rose sharply on heavy volume, while semiconductor manufacturing equipment stocks including Lasertec, DISCO and Tokyo Electron also gained. Buybacks were also seen in Mitsubishi Heavy Industries, Toyota Motor and the megabank stocks.
On the other hand, SoftBank Group was weak and Sanrio also fell sharply. Nippon Yusen and Mitsui Fudosan were pressured by selling, while Nippon M.D.M. and Mitsui Chemicals plunged, and Takar Holdings also fell significantly.