The Nikkei Average opened higher, continuing its upward trend, supported by the rise in US stocks. However, there is also a possibility of a reversal.
September 13, 2024, 9:18 AM GMT+9
The Nikkei Average started the trading day on the Tokyo Stock Exchange with a gain of 49.14 yen compared to the previous day, at 36,882.41 yen. This was driven by positive sentiment from the stock market in the United States the previous day.
However, there were moments of decline afterwards, with a back and forth movement around the previous day's closing price. The exchange rate has been leaning towards a stronger yen compared to the previous day, which is suppressing upward momentum due to profit-taking and waiting for a rebound from the previous day's stock market rally.
Main stocks such as Toyota Motor and Sony Group are weak. Semiconductor-related stocks are mixed, with Tokyo Electron trading at a lower price. On the other hand, Fast Retailing, which has a high contribution to the index, is slightly higher, while SoftBank Group is slightly lower.
However, there were moments of decline afterwards, with a back and forth movement around the previous day's closing price. The exchange rate has been leaning towards a stronger yen compared to the previous day, which is suppressing upward momentum due to profit-taking and waiting for a rebound from the previous day's stock market rally.
Main stocks such as Toyota Motor and Sony Group are weak. Semiconductor-related stocks are mixed, with Tokyo Electron trading at a lower price. On the other hand, Fast Retailing, which has a high contribution to the index, is slightly higher, while SoftBank Group is slightly lower.
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