The Nikkei Average fell for a second consecutive day, closing ¥126.55 lower than the previous day at ¥65,142.78. Declines in Advantest and Fast Retailing dragged the index down by approximately ¥382.
The Nikkei Stock Average fell for a second consecutive day on the 9th, closing ¥126.55 lower than the previous day at ¥65,142.78. Concerns over higher oil prices stemming from the previous day's decline in US stocks and escalating tensions in the Middle East weighed on the market, dampening buying. As a result, the index fell into negative territory in the afternoon.
Advantest was the largest downward contributor, pulling the index down by approximately ¥231, followed by Fast Retailing, which dragged it down by approximately ¥150. The two stocks together accounted for approximately ¥382 of downward pressure. Recruit Holdings, Tokyo Electron, and Terumo also contributed to the decline.
SoftBank Group was the largest upward contributor, pushing the index up by approximately ¥204, followed by Fujikura, Ibiden, TDK, and Sumitomo Electric Industries. Among the Nikkei Average's constituent stocks, 113 rose, 110 fell, and 2 were unchanged.
The deterioration in the Middle East situation, higher oil prices, and expectations that the Bank of Japan will accelerate its rate hikes weighed on investor sentiment. Resource-related stocks rose, while retail and services stocks declined. Market participants said they want to assess the impact of higher oil prices on corporate earnings and personal consumption.