The Nikkei Stock Average fell sharply in Tokyo trading on the 11th, closing at ¥64,011.34, down ¥1,259.61 from the previous day. Risk aversion spread against a backdrop of worsening Middle East tensions and higher oil prices, with the index at one point falling more than ¥2,000 in morning trading.
The Nikkei Stock Average fell sharply on the 11th, closing at ¥64,011.34, down ¥1,259.61 from the previous day. During trading, the decline at one point exceeded ¥2,000. The backdrop included rising crude oil futures amid escalating fighting between the United States and Iran, as well as concerns over an economic slowdown.
The Tokyo Stock Price Index (TOPIX) fell 26.28 points to 4,028.30, while trading volume was 2.37251 billion shares. In addition to volatility in oil prices, the market was weighed down by the US Producer Price Index (PPI) rising more than expected and higher long-term US interest rates. Many of the stocks trading at high levels were semiconductor- and AI-related issues, weighing on the broader market.
In morning trading, the Nikkei ended the morning session at ¥63,469.39, down ¥1,801.56 from the previous day. Fast Retailing and TDK declined, while Bandai Namco Holdings and Konami Group advanced. In the afternoon, the yen's appreciation paused, easing downward pressure on automakers and bank stocks, but selling intensified even as the market approached the calculation of the SQ value, and the broader market continued to be pushed lower.
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