Overview
- The Nikkei 225 rallied strongly on Tuesday, rising more than ¥1,500 at one point and briefly recovering above ¥65,000 before settling lower in the morning session.
- Market data showed the Nikkei at ¥64,439.87 at 9:15 a.m., up ¥298.75 from the previous close and TOPIX higher by about 72.08 points in the morning.
- Traders and investors said heavy buybacks and value buying followed a two-day drop of over ¥4,600 that left many stocks technically oversold.
- Gains were led by high-priced AI and semiconductor names, with renewed buying in Kioxia after it hit stop-low levels on July 17.
- The yen traded around the mid-¥162 per dollar range, which helped lift appetite for exporters but left the market exposed to further swings from global political and FX risks.