Nikkei Bounces Back on Autonomous Buying Amid Global Caution

The Nikkei Stock Average rebounded on July 28, closing at 64,931.19, up 320.04 yen from the previous weekend's low point of 64,611.15.

This bounce was driven by buying aimed at an autonomous rebound following the previous session's plunge of over 1,800 yen, but the upside was limited due to a decline in US tech stocks and caution ahead of the FOMC meeting.

Market participants pointed out that lower US long-term interest rates, active share buybacks by Japanese companies, and the Tokyo Stock Exchange's ongoing requests for corporate value enhancement were perceived as supporting factors.