[Nikkei Stock Average and TOPIX (Table)]

Nikkei Average; 39535.06; +154.17

TOPIX; 2713.90; +1.23

Summary of the start of the afternoon session

The afternoon Nikkei Average started with a slight increase from the previous day's closing at 39,535.06 yen, which was 154.17 yen higher, narrowing the gains from the morning session (39,612.82 yen). During lunchtime, Nikkei 225 futures traded weakly in a range of 39,520 yen to 39,640 yen with mixed movements. The dollar-yen exchange rate remained around 148.70-80 yen, almost the same as around 9 a.m. The Asian market was trending in the negative territory with the Shanghai Composite Index down by about 1.3%. The Hong Kong market was closed.

The Tokyo market in the afternoon session started with some selling pressure compared to the morning session. As the Nikkei Average approaches the psychologically important level of 40,000 yen and with the Tokyo market closing for a 3-day weekend starting tomorrow, caution is observed in chasing higher prices. Meanwhile, in the morning session, although the Nikkei Average struggled shortly after the opening, it has since been trading steadily, providing a sense of stability in the market.

In the sectors, banking, insurance, and nonferrous metals are among the top gainers, while real estate, rubber products, and food products are among the top losers.

In the top turnover on the TSE Prime Market, Takeuchi Manufacturing <6432>, SHIFT <3697>, BayCurrent <6532>, Fujikura <5803>, First Retail <9983>, Advantest <6857>, Kawasaki Heavy <7012>, IHI <7013>, Chugai Pharmaceutical <4519>, and Mitsui Sumitomo <8316> are performing well. On the other hand, 7&i HD <3382>, Mercari <4385>, Kasumigaseki Capital <3498>, Canon <7751>, KDDI <9433>, JT <2914>, Sekisui House <1928>, SoftBank Group <9984>, NTT <9432>, and Nintendo <7974> are declining.