[Nikkei Stock Average and TOPIX (Table)]
Nikkei Average; 38098.17; + 146.37
TOPIX; 2662.72; - 2.14
Summary of the start of the afternoon session
In the afternoon, the Nikkei Average started with a smaller increase from the morning closing, at 38,098.17 yen, up 146.37 yen from the previous day. During the lunchtime, the Nikkei 225 futures traded weakly within the range of 38,060 yen to 38,190 yen. The USD/JPY exchange rate has been around 1 dollar = 145.30-40 yen, around 20 yen weaker and the dollar stronger since around 9 am. In the Asian market, the Shanghai Composite Index is moving back and forth around the previous day's closing, while the Hang Seng Index in Hong Kong has risen by about 0.2% after the morning high but is now struggling to increase further.
In the afternoon session, the Tokyo market started with selling pressure compared to the morning session. It has been pointed out that there is a tendency for selling pressure to occur when the Nikkei Average exceeds 38,000 yen. On the other hand, the exchange rate of the yen has been moving at a weaker yen and stronger dollar level compared to the morning, which seems to provide a sense of reassurance in the stock market.
In sectors, pharmaceuticals, oil & coal products, and warehouse transportation related stocks are among the top gainers, while securities, commodity futures, banking, and rubber products are among the top losers.
In the top trading value on the Tokyo Stock Exchange Prime market, Mercari <4385>, IHI <7013>, Sumitomo Dainippon Pharma <4506>, Kasumigaseki Capital <3498>, Sakura <3778>, SHIFT <3697>, Astellas Pharma <4503>, Chugai Pharmaceutical <4519>, Renesas <6723>, and Shin-Etsu Chemical <4063> are performing well. On the other hand, Screen Holdings <7735>, Disco <6146>, TOWA <6315>, Toyota <7203>, Mitsubishi UFJ Financial <8306>, 7&i Holdings <3382>, Mizuho <8411>, Hitachi <6501>, Fujikura <5803>, and Kawasaki Heavy Industries <7012> are declining.