The Nikkei average is in a high range consolidation, temporarily up 870 yen, with financial stocks holding firm.

October 7, 2024, 10:56 AM GMT+9 (excerpt)

The Nikkei average has expanded its gains from the opening and is in a high range consolidation. Currently, it is trading around 39,400 yen, approximately 770 yen higher than the previous trading day. There were moments when it rose more than 870 yen. Stocks with high index contribution and some technology stocks are holding firm, pushing the market up. By global sectors, financial stocks are strong due to the rise in domestic interest rates.
However, while Japanese stocks are maintaining their strength, they are not expanding their gains rapidly. The dollar/yen fluctuated slightly towards a stronger yen direction from early morning and is trading around the mid-148 yen level. There are opinions that "the room for yen depreciation in exchange rates is limited, and it is uncertain whether the Nikkei average will rise significantly" (from a domestic asset management company portfolio manager).