The Nikkei average rebounded for the first time in 8 days, buoyed by the stock market rise and yen depreciation after the US CPI.

September 12, 2024 3:36 PM GMT+9 (excerpt)

The Nikkei average on the Tokyo stock market closed at 36,833.27 yen, up 1,213.50 yen from the previous trading day, rebounding for the first time in 8 days. Buyers were encouraged by the rise in US high-tech stocks and yen depreciation in the US market after the release of the previous day's US Consumer Price Index (CPI). Buying was also supported by expectations of a self-rebound after the continued decline until the previous day. It was the third largest increase this year.
The Nikkei average opened 565 yen higher and rose to 36,902.21 yen, up 1,282 yen at one point. Buying was seen in a wide range of stocks from the morning, leading to a market-wide rally. Semiconductors and high-tech stocks, which have a high contribution to the index, stood out in the rise, and financial stocks such as export-related stocks and banks were also firm.