The Nikkei 225 opened down ¥182.11 at ¥65,087.22, with Sanrio and Nintendo among the decliners. Falling U.S. stocks, higher oil prices and rising long-term interest rates weighed on the market.
The Nikkei 225 opened lower on the 9th in Tokyo, falling to ¥65,087.22. Selling prevailed in the morning, with stocks such as Sanrio and Nintendo declining.
U.S. stocks fell for a second straight session the previous day, with the Dow posting a sharp decline and the Nasdaq also moving lower. Rising oil prices and higher long-term interest rates strengthened risk aversion, leaving market sentiment cautious after the open.
Semiconductor-related stocks, meanwhile, were supported by the SOX Index extending its gains to 4 days, and gains in semiconductor shares provided a modest lift to the broader market. With the rise in domestic long-term interest rates also showing signs of pausing, the Nikkei 225 briefly recovered slightly after the open.
By sector, securities, insurance, services, pharmaceuticals and other products were among the top decliners, while oil and coal products, mining, nonferrous metals, machinery and construction were among the leading gainers. With important events ahead, including the release of PPI and CPI data and meetings of the Bank of Japan and the FOMC, a cautious market environment is expected to continue.