Following the rise in U.S. stocks, the Nikkei Stock Average in the Tokyo market temporarily rebounded to the ¥69,000 level. The rise in U.S. stocks at the end of the previous week spread to Japan, lifting the market as AI-related and semiconductor stocks attracted buying.
In the Tokyo stock market on the morning of Monday the 5th, the Nikkei Stock Average was rebounding sharply, with its gain temporarily exceeding ¥1,600 and recovering to the ¥69,000 level. As of 9:15 a.m., the Nikkei was up ¥1,450.55 from the previous weekend close at ¥69,760.01, while TOPIX was up 43.60 points at 4,134.60.
U.S. employment data came in below market expectations, and the resulting decline in expectations for a Federal Reserve rate hike supported major stock indexes and strengthened the market's resilience in Tokyo.
Against this backdrop, AI-related and semiconductor-related stocks, which had been trading at high levels, attracted buying in Tokyo and led the market higher.
Overall, risk-on sentiment strengthened in Japan in response to U.S. economic data and developments in U.S. markets. The outlook may fluctuate depending on upcoming U.S. data releases and interest-rate expectations.