The Nikkei stood at ¥70,074.13 in the morning session, down ¥609.85, with estimated trading volume of approximately 1.0178 billion shares. Profit-taking selling dominated semiconductor-related stocks.
The Nikkei fell in the morning session in Tokyo, with selling leading on concerns over high valuations despite the strength of U.S. stocks the previous day. The Nikkei fell below ¥70,100 and declined toward ¥70,000.
Selling was particularly notable in semiconductor-related stocks. SoftBank Group and Fast Retailing rose, while Tokyo Electron and Disco were among the notable decliners. By sector, rubber products, electricity and gas, and real estate rose, while nonferrous metals, banks, and iron and steel fell.
Whether the market can hold the ¥70,000 level in the afternoon will be the focus. Overseas, long-term interest rates remain elevated, which is seen as a factor making investor sentiment more cautious. Some market participants also want to assess whether profit-taking selling in semiconductor-related stocks will subside. Uncertainty over the outlook for the Middle East was also cited as an ongoing risk factor.