In Tokyo trading after the holiday break, the Nikkei Average fell more than ¥1,900 at one point, dropping to below ¥68,000. Selling spread to semiconductor-related stocks amid declines in U.S. technology stocks and the impact of higher oil prices due to the situation in the Middle East.
In morning trading on the 13th after the holiday break, the Nikkei Stock Average continued to decline, at one point suffering a sharp drop of more than ¥1,900. Selling orders increased, particularly for semiconductor-related names, following declines in U.S. technology stocks the previous day.
The morning close was ¥67,292.39, down ¥1,738.53 from the previous weekend's close. The Tokyo Stock Price Index, or TOPIX, was also down 18.90 points at 4,085.91.
In the U.S. market the previous day, stocks were sold after reports of progress in the development of high-performance products by a Chinese memory semiconductor manufacturer raised concerns about price declines resulting from intensified competition. The rise in U.S. crude oil futures prices amid uncertainty over the situation in the Middle East was also a burden on the market.