Tokyo stocks end slightly higher after volatile session, Nikkei gains 38 yen

Tokyo's Nikkei share average plunged more than 1,800 yen shortly after the opening bell on the 11th, before staging a sharp rebound to swing into positive territory. The index briefly softened again before recovering to close in the green.

The benchmark Nikkei finished up 38.00 yen from the previous session at 64,217.27 yen. Turnover on the Prime Market came to an estimated 2.41 billion shares, with trading value at an estimated 11.2563 trillion yen. Advancing issues numbered 538, while declining issues totaled 987, with 39 stocks unchanged.

The Tokyo market demonstrated resilience, rebounding from early losses. Risk aversion intensified in the morning on concerns over escalating tensions between the U.S. and Iran, driving heavy selling at the open. Sentiment was also weighed down by an overnight decline across all three major U.S. indexes and the Philadelphia Semiconductor Index (SOX), alongside a sharp post-earnings drop in Oracle in after-hours trading. However, buying interest emerged after the initial wave of selling ran its course, with bargain hunters stepping in following the previous day's steep declines. Reports during the session that the U.S. completed its latest round of strikes against Iran provided an additional tailwind. Still, more than 60% of Prime Market shares declined, indicating that market sentiment remains fragile. While select blue chips supported the Nikkei, allowing it to narrowly close in positive territory, the TOPIX finished lower. Trading remained brisk.

Among individual stocks, Kioxia Holdings <285A> surged. Tokyo Electron Limited <8035>, IBIDEN CO.,LTD. <4062>, Murata Manufacturing Co.,Ltd. <6981>, TAIYO YUDEN CO., LTD. <6976>, Shin-Etsu Chemical Co., Ltd. <4063>, KYOCERA CORPORATION <6971>, and Resonac Holdings Corporation <4004> all posted gains. TOPPAN Holdings Inc. <7911> rallied sharply, while Ajinomoto Co., Inc. <2802> and Rakuten Bank, Ltd. <5838> also moved higher. NTT, Inc. <9432>, JAPAN TOBACCO INC. <2914>, and Panasonic Holdings Corporation <6752> traded firmly, while Link-U Group Inc. <4446> hit its daily limit.

On the downside, SoftBank Group Corp. <9984> led decliners, with TDK Corporation <6762>, ADVANTEST CORPORATION <6857>, Sumitomo Electric Industries, Ltd. <5802>, and Fujikura Ltd. <5803> also falling. FAST RETAILING CO., LTD. <9983>, TOYOTA MOTOR CORPORATION <7203>, Recruit Holdings Co.,Ltd. <6098>, and CHUGAI PHARMACEUTICAL CO., LTD. <4519> were also weak. ANYCOLOR Inc. <5032> tumbled to its daily limit.

Source: MINKABU PRESS

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