The Nikkei average remained about 88 yen below the previous day during the morning session on the 16th, extending its losing streak to four sessions. The TOPIX, however, rebounded, trading became more active, the yen traded in the upper ¥155 range to the dollar, and movements on the TSE Prime Market also provided a cue.
The Nikkei Stock Average fell ¥88.10 from the previous day to ¥63,396.00 during the morning session on the 16th, extending its losing streak to four sessions after turning lower following a period of gains in the morning. The yen traded at around ¥155 to the dollar, while concerns over rising global interest rates capped gains. After hitting ¥63,209.92 at 10:56 a.m., the Nikkei pared its losses.
Trading volume on the TSE Prime Market was 810.78 million shares, with trading value at ¥3.2816 trillion. There were 1,054 advancers, 436 decliners and 61 unchanged issues. By sector, 7 of the 33 sectors declined and 26 rose.
Decliners included pharmaceutical stocks such as Sumitomo Pharma and Chugai Pharmaceutical, as well as information and communications stocks such as Mercari and SoftBank Group. Retail stocks including Aeon and Fast Retailing also fell. Meanwhile, oil and coal stocks such as Idemitsu Kosan and ENEOS, and mining stocks such as INPEX and Japan Petroleum Exploration, rose. Electric power and gas stocks and marine transportation stocks also gained.