The Nikkei Stock Average rose for a second straight day, closing at ¥64,136.25, up ¥213.02 from the previous day. While shares were bought broadly on relief following the US FOMC meeting, some AI and semiconductor shares were sold.
In Tokyo trading on 17 September, the Nikkei Stock Average rose ¥213.25, or 0.33%, from the previous day to close at ¥64,136.25, marking a second consecutive gain. Some major shares were bought, resulting in a modest overall rise.
After the US Federal Reserve (FRB) decided the previous day to raise interest rates, as broadly expected by the market, investors in Tokyo were reassured, prompting broad-based buying led by pharmaceutical and real estate shares. More than 80% of TSE Prime-listed stocks rose.
However, the scope for the Nikkei Stock Average to be pushed higher was limited, and some AI (artificial intelligence) and semiconductor-related shares were sold. There was also a strong desire to assess the outcome of the Bank of Japan's monetary policy meeting, which runs through 18 September, leaving investors cautious about the market's direction.
The Tokyo Stock Price Index (TOPIX) rose 32.47 points to 4,094.19.