Tokyo stocks closed higher on the 21st, led by gains in major semiconductor-related shares that lifted the Nikkei average, though the market pared gains in the afternoon session.

The Nikkei Stock Average closed at 59,349.17, up 524.28 points from the previous trading day, marking a second consecutive day of gains. The Prime Market saw an estimated trading volume of 2.02034 billion shares and trading value of 6,852.2 trillion yen. A total of 516 issues rose, while 1,010 declined and 48 remained unchanged.

The Tokyo market faced headwinds following declines across European and US markets the previous day, but risk-taking activity was brisk from the morning, pushing the Nikkei higher. Index buying by overseas short-term players involving futures drove the broader market upward. The index gradually climbed higher, surpassing the all-time high set on the 16th by the close of the morning session. Expectations that peace negotiations between Iran and the United States would continue supported buying despite ongoing uncertainty in the Middle East. However, momentum weakened in the afternoon. While declining issues outnumbered gainers by the morning close, the number of falling stocks increased further in the afternoon session. By the close, over 1,000 issues had declined, representing 64% of the total. The TOPIX ended in negative territory.

Among individual stocks, KIOXIA HOLDINGS <285A>, which continues to lead in trading value, surged sharply. LASERTEC <6920> and TOKYO ELECTRON LIMITED <8035> also rose strongly. SOFTBANK GROUP <9984> attracted buying interest, while cable stocks including FUJIKURA <5803> and FURUKAWA ELECTRIC <5801> also advanced. IBIDEN <4062> jumped, and MITSUI KINZOKU <5706> extended gains. RIGAKU HOLDINGS <268A> hit the daily limit up, while NOJIMA <7419> and MUSASHI SEIMITSU INDUSTRY <7220> soared. JEOL <6951> attracted buying, and SAKURA INTERNET <3778> also advanced.

On the downside, MITSUBISHI UFJ FINANCIAL GROUP <8306> was lackluster, and TOYOTA MOTOR <7203> came under selling pressure. SUMITOMO PHARMA <4506> was weak, and FAST RETAILING <9983> also declined. JAPAN DISPLAY <6740> plunged, topping the list of decliners by percentage, while DAIICHI KIGENSO KAGAKU-KOGYO <4082> and KOBE BUSSAN <3038> also fell sharply. SHIFT <3697> and CAPCOM <9697> posted notable declines. In addition, regional bank stocks including THE SHIGA BANK <8366> and THE 77 BANK <8341> saw many issues decline.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.