Tokyo stocks were soft in early trading. Although buying emerged temporarily on the back of higher U.S. stocks, profit-taking selling weighed on the market, and the Nikkei Average edged lower after opening. Reports focused mainly on trading during the morning of the 7th.
The Nikkei Stock Average remained soft. Buying emerged after the open on the back of the previous day's gains in U.S. stocks, but did not last long, and the index was pushed lower by profit-taking selling. Market participants said selling in AI and semiconductor-related stocks was reducing their contribution to the Nikkei Average.
The Nikkei opened at ¥70,582.11, down approximately ¥101.87 from the previous day's close. Buying prompted by higher U.S. stocks and profit-taking selling offset each other, and the index moved around the previous day's closing level.
The number of declining issues on the Prime Market gradually increased to more than half of all issues. Market participants said selling in AI and semiconductor-related stocks was weighing on the market.
The report was published by Yahoo! News as distributed by Jiji Press.