The Nikkei Average was up around 190 points in the morning session, with buying leading early on, but selling by investors waiting for a rebound subsequently prevailed. The market moved on optimism over the US market and the yen's weakening trend, but uncertainty over its direction remained toward the afternoon.
The Nikkei Average traded around 190 points above the previous weekend's close in the morning session on the 28th. It rose to 67,034.74 at 9:24 a.m., recovering to the 67,000 level during trading hours for the first time in about five weeks. Buying led the market amid expectations for progress in ceasefire negotiations in the US market, following the rebound in the Dow Jones Industrial Average.
By sector, 15 of the 33 sectors rose and 18 fell. Glass and ceramics stocks, including TOTO and NGK, and nonferrous metal stocks, including Sumitomo Electric and Fujikura, surged. Machinery stocks Disco and SMC, precision instrument stocks Nikon and HOYA, electrical equipment stocks Advantest and Tokyo Electron, and bank stocks Mitsubishi UFJ and Sumitomo Mitsui remained firm. Meanwhile, mining stocks INPEX and Japan Petroleum Exploration, and pharmaceutical stocks Chugai Pharmaceutical and Daiichi Sankyo, fell.
Elsewhere, Rigaku Holdings, Tamura, Kaga Electronics, Samco, and Money Forward rose. Nidec, Okuwa, Tomen Devices, OPTiM, and Ibiden fell. In the Tokyo foreign exchange market, dollar-yen traded in the upper ¥157 range and euro-yen in the mid-¥179 range.