The morning Nikkei average rebounded, driven by higher US stocks and a weaker yen, and then reached a stalemate after the buying wave.

September 12, 2024, 12:17 PM GMT+9 (excerpt)

In the morning Tokyo stock market, the Nikkei average rebounded for the first time in 8 business days, rising 985.85 yen to 36,605.62 yen. The higher US stock market and the direction of a stronger dollar and weaker yen in the foreign exchange market supported the buying trend in various industries. After the initial buying wave, a sense of stalemate gradually increased, and voices pointing out the slowness of the rebound were heard in the market.
After opening with a 565 yen gain, the Nikkei average continued to rise, reaching a high of 36,873.37 yen, up 1253 yen from the previous day. Major stocks rose across the board, pushing up the Nikkei average. After the initial buying wave, there was a period of consolidation at a level about 1000 yen higher.