The Nikkei Average initially fell at the open of the Tokyo stock market but recovered, turning higher after the open and trading up ¥105 from the previous day in the 9 a.m. hour. Attention focused on overseas markets and upcoming Fed events.
The Nikkei Average was up ¥105 from the previous day as of 9:05 a.m. Selling prevailed at times before and around the open, but the index turned higher after the open.
In the U.S. market, the Nasdaq Composite rose 1.57% and the SOX Index gained 2.33%, supporting technology and semiconductor-related stocks.
The Nikkei Average's 25-day moving average around ¥65,600 was watched as downside support, leading to the view that there was limited room for further declines from here.
Some market participants held back from aggressive buying as they sought to assess the Fed Chair's speech at tonight's Jackson Hole symposium.