Large-scale sell-offs have peaked, and the Nikkei 225 index has recovered the losses since the sharp drop on August 5.
The Nikkei 225 index has recovered to the level before the more than 12% drop on August 5. As of 10 a.m. Tokyo time, the Nikkei 225 index rose 2.7% to 35,961.95 points, with the yen weakening, providing support for exporters such as automakers and technology companies. Technology stocks, including Tokyo Electron, rose after Nvidia boosted the Philadelphia semiconductor index. Ikuo Mitsui, a fund manager at Bluesea Securities, said, "The massive sell-off seen last week has peaked, and investors' attention is shifting to fundamentals such as corporate earnings." "Investors are buying stocks at relatively low valuations," said Ryuta Otsuka, a strategist at Toyo Securities. "The Japanese stock market today is likely to be the calmest in a while. The stability of the yen will also help stabilize the Japanese stock market."
