The Nikkei 225 rebounded as concerns over Nvidia in the US market eased, prompting buying back in semiconductor-related stocks. The market opened on the 13th on an upward trend.
Although US stocks fell sharply the previous day, the Japanese market opened with the Nikkei 225 rebounding. Overseas factors cited included rising long-term interest rates and caution over a rate hike at the FOMC, but buying back in AI and semiconductor-related stocks took the lead. The morning session closed at ¥61,816.72, with estimated volume of 1.07814 billion shares.
The Nikkei 225 opened at ¥61,223.41 on the 13th, and buying back progressed as the surprise downside factors faded. In particular, concerns surrounding Nvidia eased, attracting buying in domestic semiconductor and AI-related stocks and lifting Advantest, Tokyo Electron and Sony Group. Intermittent futures buying by overseas short-term investors also pushed the market higher.
Among individual stocks, gainers included Advantest, Fast Retailing, Tokyo Electron, Recruit Holdings, BayCurrent, Konami Group, TDK, Trend Micro, FANUC, Bandai Namco Holdings, Kioxia Holdings, Nitto Denko and Mitsubishi Corporation. Meanwhile, SoftBank Group and Terumo, as well as Shin-Etsu Chemical, Mercari, Mitsubishi Electric, Mitsubishi Heavy Industries, IHI, HOYA, Nitori Holdings, Fujitsu, Yokohama Rubber, Toyota Motor, Japan Tobacco, Suzuki and Daiwa House Industry, declined.
In the afternoon session, the market is expected to trade in a high range, centered around the morning closing level. Factors behind the rise from the previous day include buying back in AI and semiconductor-related stocks and futures buying by overseas short-term investors, while the 200-day moving average is expected to be viewed as resistance on the upside. Movements in US long-term interest rates, higher crude oil prices and earnings announcements over the weekend could affect the sentiment of overseas investors, while quarterly earnings announcements continue in Japan.
The focus of the market is expected to be whether buying back in semiconductor-related stocks will continue, position-adjustment activity and market expectations ahead of US data releases overnight.