The Nikkei Average edged lower for a 3rd straight day. It fell sharply at one point in the morning under pressure from declines in semiconductor stocks, but dip-buying emerged after semiconductor selling ran its course, and it ended the session slightly lower. The TOPIX rebounded for the first time in 3 days, with advancing issues outnumbering decliners on the TSE Prime Market.
On the 9th, the Nikkei Average fell ¥11.19 from the previous day to ¥69,030.92, extending its decline for a 3rd straight day, albeit modestly. Following declines in U.S. technology stocks, it fell to ¥68,150.02 at 9:20 a.m., down ¥892.09 from the previous day, but dip-buying emerged after semiconductor selling ran its course. The index briefly rebounded modestly in the afternoon before ultimately ending the session slightly lower. The TOPIX rebounded for the first time in 3 days, rising to 4,104.81 points.
U.S. markets the previous day weighed on trading, with the Nasdaq posting a sharp decline and the SOX Index also falling. Against this backdrop, the Nikkei Average opened at ¥68,648.50, and semiconductor and AI-related stocks were in focus. In the morning session, SoftBank Group and Fast Retailing together pushed the Nikkei Average down by approximately ¥470, while shipping and services stocks remained firm. Dip-buying also emerged in semiconductor stocks toward the afternoon, with Advantest and Tokyo Electron turning higher and the index settling at a modest gain toward the close.
Trading volume on the TSE Prime Market was 2.29519 billion shares, and trading value was ¥7.8454 trillion, indicating active trading. There were 1,194 advancing issues, 331 declining issues and 27 unchanged issues, with advancers substantially outnumbering decliners. By sector, 8 sectors declined and 25 rose. Retail, glass and ceramics, and nonferrous metals stocks were weak, while shipping and some IT and services stocks remained firm. Market participants were focused on the SQ level. The Special Quotation Index was calculated at ¥68,465.23, and the Nikkei Average moved around this level in the afternoon session.
In the key moves from the morning through the afternoon, semiconductor stocks including Advantest and Tokyo Electron rose on dip-buying, easing the weakness in the SOX Index. The preliminary University of Michigan Consumer Sentiment Index was scheduled to be released in the United States that night, while position adjustments ahead of the extended holiday from the following day onward were also a factor in the domestic market. Overall, individual stocks continued to have a significant impact on the indices.