The Nikkei average ended down ¥214.68 in Tokyo trading on the 23rd. The decline exceeded ¥1,400 at one point during the session, but narrowed as investors bought back shares. Selling in AI- and semiconductor-related stocks weighed on the market, while bank stocks also fell as long-term interest rates declined. About 60% of stocks on the TSE Prime Market fell. Some market participants said expectations for a rebound could strengthen if next week's earnings announcements confirm solid performance.
The Nikkei Stock Average ended at ¥62,693.16 on the 23rd, down ¥214.68 from the previous day. The decline exceeded ¥1,400 at one point during trading, but buying returned later, narrowing the loss by the close.
Following declines in semiconductor stocks in the US market, selling spread to some AI- and semiconductor-related stocks in Tokyo. Demand for safe-haven assets drove buying of government bonds, pushing down long-term interest rates and weighing on bank stocks. About 60% of stocks on the TSE Prime Market fell.
The Tokyo Stock Price Index, or TOPIX, fell 31.69 points to close at 3,965.81. In the market on the 22nd, profit-taking selling had spread after the earnings results of a major US semiconductor equipment maker fell short of market expectations.
Among major securities firms, some market participants said the market could turn higher if the earnings announcements that gather pace next week confirm solid performance.