The Nikkei 225 opened at ¥65,885.47, down 426.46 points, with selling leading after the open. Continued declines in U.S. stocks and concern over higher oil prices and rising long-term interest rates were cited as factors behind the weakness. By sector, nonferrous metals and electrical equipment declined, with SUMCO and Tokyo Electron among the stocks that fell.
The Nikkei 225 opened at ¥65,885.47, down 426.46 points, and began trading lower for a second consecutive session. Declines in U.S. stocks the previous day weighed on the Tokyo market, with selling prevailing at the open.
All three major U.S. stock indexes, the Dow, Nasdaq and S&P 500, fell, while higher oil prices and concern over rising long-term interest rates were seen as downside factors for the Tokyo market. Some market participants viewed the 75-day moving average as resistance on the upside, and the Nikkei remained weak after the open.
Among individual stocks, nonferrous metals and electrical equipment issues, led by SUMCO and Tokyo Electron, were among the top decliners. DISCO, Renesas and Lasertec also fell. Meanwhile, Square Enix Holdings, IHI, Nippon Steel, Fujitsu and Toyota advanced.
Although the market showed some resistance to further declines after the open, selling was dominant overall. There was also a view that some AI-related and semiconductor-related stocks helped support the market.