The Nikkei Average is expected to face heavier selling in semiconductor-related stocks during the afternoon session due to concerns over a rate hike. The decline has widened from the morning session open, and the Nikkei Average has fallen below the 75-day moving average around the ¥66,400 level again.
The Nikkei Average is expected to remain range-bound near its lows during the afternoon session, with investor caution likely to persist. Semiconductor-related stocks have been identified as a key market focus.
At the morning session open, the Nikkei Average was down ¥737.05, and the pace of decline is expected to carry over into the afternoon session.
The Nikkei Average has fallen below the 75-day moving average around the ¥66,400 level again, and trading may continue near this level, which is viewed as resistance.