The Nikkei Average was up ¥541 as of 2:50 p.m., with Advantest, Tokyo Electron and Recruit Holdings among the top contributors. Companies due to report earnings and tonight’s US CPI will be the market’s focus going forward.
The Nikkei Average was trading ¥541 higher as of 2:50 p.m. Advantest, Tokyo Electron and Recruit Holdings were among the top contributors, while Fast Retailing, Daikin and Toyota Tsusho were among the leading negative contributors. By sector, banks, nonferrous metals and electrical appliances were higher, while rubber products, marine transportation and textiles declined.
The Nikkei Average has remained firm, and Tokio Marine and other companies are scheduled to announce their earnings later today. Market participants are focused on earnings trends and the outlook for corporate performance.
In the US market, July consumer price index (CPI) data and the July fiscal balance are expected to be released tonight, which could affect trading in the Japanese stock market.