The Nikkei Average was down ¥108 in the morning before ending the morning session down ¥2,246 at ¥60,835. In the afternoon, it pared losses following the midterm election results, ultimately ending down ¥893 at ¥62,188 for a third consecutive decline.
In the Tokyo market, the Nikkei Average fell sharply during the morning session, then pared its losses in the afternoon as the sense that all market-moving factors had been priced in and developments in the election weighed on the market. The Nikkei Average ultimately ended trading down ¥893 at ¥62,188, marking its third consecutive decline. The TOPIX also fell for a third consecutive day, while the TSE Growth 24.0 Index of emerging-market stocks fell for a fourth consecutive day.
Among individual stocks, Mitsui Chemicals plunged as much as 10.3% to ¥1,856.5. Reports on 2 November said that the Innovation Network Corporation of Japan (JIC), a public-private fund, could sell JSR, prompting selling on concerns over the financial burden. Yamato Holdings, meanwhile, rose 11.5% to ¥2,194.5, with buying driven by Farallon Capital Management's stake. Japan Airlines rose 4.9% on both a pause in the crude oil market and positive earnings assessments. Mitsui & Co. fell for a third consecutive day, with an upward revision to its full-year net profit forecast and unchanged dividends viewed as market factors.
Tier IV, which develops autonomous driving technology, rose 11.0% to ¥2,670, posting a sharp gain for the first time in 4 sessions. Reports that the Ministry of Land, Infrastructure, Transport and Tourism is considering a policy for certifying autonomous vehicles provided support. Corporate earnings and developments in the U.S. and China are expected to regain focus from tomorrow onward.