The Nikkei 225 opened up ¥804.28 at ¥69,113.74. Expectations for a US rate hike receded against the backdrop of weak US employment data, and the Tokyo market remained firm, following gains in US stocks.
The Nikkei 225 opened up ¥804.28 from the previous business day at ¥69,113.74. As weak US employment data reduced expectations for a US rate hike this month, the index followed gains in US stocks and recovered to the ¥69,000 range for the first time in approximately 1.5 months.
By sector, electrical appliances, machinery, and glass and ceramics products were firm, while mining and pulp and paper stocks declined. Among individual stocks, Tokyo Electron, SoftBank Group, and Advantest rose, while Fast Retailing was also firm and Kioxia Holdings remained solid.
Among the broader market moves, Toyota Motor remained firm, while Mitsubishi UFJ Financial Group edged higher. The Tokyo market extended its gains after the open, following the rise in US stocks, with the Nikkei 225 trading approximately 1.9% higher.