[Nikkei Stock Average and TOPIX (Table)]

Nikkei average; 38751.97; +881.71

TOPIX; 2699.27; +48.77

Summary of the start of the afternoon session

In the afternoon, the Nikkei average started with a slightly reduced increase from the morning closing price (38,812.94 yen) to 38,751.97 yen, up 881.71 yen from the previous day. During lunchtime, the Nikkei 225 futures traded in the range of 38,490 yen to 38,580 yen in a tight range. The dollar-yen exchange rate remained at around 1 dollar = 144.80-90 yen, slightly weaker yen and stronger dollar level since around 9 a.m. The Asian market showed a decline in the morning but later trended firmly, rising by about 0.6%. Meanwhile, the Hang Seng Index in Hong Kong extended its gains in positive territory, rising significantly by about 1.8%. The Tokyo market in the afternoon started with some selling pressure compared to the morning closing. Although the Nikkei average fell by about 70 yen yesterday, concerns about short-term overheating are still present, leading to cautious optimism about further upside. On the other hand, Dow futures, which were somewhat soft in the morning, are now trending steadily, and the strong performance of the Hang Seng Index and the Shanghai Composite Index are supporting factors for stock prices in the Tokyo market.

In the sector, all industries are on the rise. Other products, metal products, and electric appliances are among the top gainers. In the top trading values in the Tokyo Stock Exchange Prime Market, KOKUSAI <6525>, TOWA <6315>, DISCO <6146>, Ebarasuzuki <6361>, TOHO ELEC <8035>, Advantest <6857>, Hitachi <6501>, SOCIANEXT <6526>, Nintendo <7974>, ASICS <7936> are performing well. On the other hand, Mercari <4385>, Lasertec <6920>, Kawasaki Kisen <9107>, Mitsui O.S.K. Lines <9104>, JFE <5411> are declining.