The Nikkei Average fell sharply by more than ¥800 at one point in the Tokyo stock market, dropping below ¥69,000. Selling prevailed amid uncertainty over the situation in the Middle East and developments in the US.
The Nikkei Average fell back in morning trading on the 18th in the Tokyo stock market, declining by more than ¥800 at one point and standing at ¥68,584.15. It was down ¥636.10 from the previous close.
The Tokyo Stock Exchange Stock Price Index (TOPIX) stood at 4,179.52, down 4.59 points, as selling pressure intensified across the broader market.
Stalled negotiations between the US and Iran raised concerns, while expectations grew that rising long-term interest rates and higher oil prices would increase companies’ interest payment burdens. Rising US crude oil futures prices rekindled inflation concerns and strengthened investors’ risk-averse stance.
Meanwhile, buying in SoftBank Group and other related stocks, supported by resilient AI demand, helped the market, while buying on dips emerged at lower levels. The market is expected to remain focused on developments in the Middle East and movements in oil prices and interest rates.