The Nikkei average extended gains, supported by the weakening yen, etc., and cautiously watched as the US CPI approached.

October 10, 2024, 3:36 PM GMT+9 (excerpt)

The Nikkei average on the Tokyo stock market closed higher at 39,380.89 yen, up 102.93 yen from the previous trading day. Supported by the previous day's rise in US stocks and the yen's weakening trend, the Nikkei average maintained a solid performance. However, as the release of the US Consumer Price Index (CPI) tonight approached, a wait-and-see stance gradually strengthened, leading to a mixed performance in the afternoon session.
The Nikkei average started solidly higher by 297 yen from the previous trading day, then expanded its gains and reached a high of 39,616.59 yen, up 338 yen. Semiconductor-related stocks, which have a significant impact on the index, provided firm support and lifted the market. However, the gains gradually narrowed in the afternoon. Ahead of tonight's US CPI release and earnings reports from leading retailers such as Fast Retailing (9983.T), there were profit-taking moves before the events. At one point, the Nikkei average erased gains and approached the previous trading day's closing price.