The Nikkei Average extended its gains in the afternoon session against a backdrop of strength in U.S. tech stocks. Advantest made the largest contribution, followed by Tokyo Electron in second place, while dollar-yen was modestly firm and attention focused on market developments amid higher oil prices.
The Nikkei Average extended its gains in the afternoon session on strength in U.S. tech stocks. Although the market opened lower in the morning, buying prevailed, particularly in semiconductor-related stocks, with notable gains among Advantest, Tokyo Electron and other issues. The Nikkei Average recovered toward the ¥66,682.88 level, its morning closing price.
Dollar-yen moved narrowly in the low ¥159 range, while NY crude oil futures traded in the $82 range, with episodes of buying pressure on the dollar. Major currencies were somewhat soft against the dollar but often remained firm against the yen.
The afternoon session's stocks to watch included 6 issues, including Silicon Studio and Mobilus, which at times hit their daily price limits. Advantest made the largest contribution to the gain, followed by Tokyo Electron in second place.
The economic indicators and comments from key officials released included Japan's Tokyo core CPI index (August), up 1.8% year on year, Japan's unemployment rate (July) at 2.4%, and Japan's job-offers-to-applicants ratio (July) at 1.18. Finance Minister Katayama said, "Strengthening the international competitiveness of the Japanese economy will increase confidence in the yen."