[Nikkei Stock Average and TOPIX (Table)]

Nikkei average; 39214.84; +277.30

TOPIX; 2701.42; +2.27

Summary of the start of the afternoon session

In the afternoon, the Nikkei average started slightly expanding its gain from the morning close (39,178.70 yen) to 39,214.84 yen, up 277.30 yen from the previous day. During lunchtime, the Nikkei 225 futures traded in a strong range of 39,130 to 39,260 yen. The dollar-yen exchange rate continued to remain at a high level of 148.20-30 yen per dollar from around 9 a.m., with the yen weakening by about 20 sen and the dollar strengthening. In the Asian market, while the Shanghai Composite Index widened its losses in the negative territory, dropping significantly by about 6.4%, the Hang Seng Index in Hong Kong turned lower after an initial rise, falling significantly by about 3.4%. The afternoon session in the Tokyo market started with some buying compared to the morning close. The yen's continued depreciation and the high dollar level provided a sense of reassurance in the stock market. On the other hand, the significant declines in the Hang Seng and Shanghai Composite Indices seem to be weighing on the Tokyo market's stock prices.

In terms of sectors, retail trade, services, and precision instruments are among the top gainers, while mining, insurance, and wholesale trade are among the top losers.

Among the top trading values on the Tokyo Stock Exchange's main board, 7&iHD <3382>, SHIFT <3697>, Mercari <4385>, Laser Tech <6920>, Advantest <6857>, Ibiden <4062>, Nitori HD <9843>, Screen HD <7735>, Kawasaki Heavy <7012>, and Rakuten <4755> are performing well. On the other hand, INPEX <1605>, Mitsui Mining <8031>, Nintendo Co Ltd <7974>, Tokio Marine Holdings <8766>, Mitsubishi Shoji <8058>, TEPCO Holdings <9501>, Nissan Motor <7201>, Renesas <6723>, Itochu <8001>, and Sumitomo Forestry <1911> are experiencing declines.