The Nikkei Average was trading around 470 points lower on the morning of the 21st, after falling sharply at one point during the morning session. It subsequently pared its losses on dip-buying, while the exchange rate hovered around ¥159 to the dollar. Notable moves were seen among both advancing and declining constituents.
Shortly after 11 a.m. on the 21st, the Nikkei Stock Average was around ¥65,750, down approximately ¥470 from the previous day, with selling prevailing from the morning. It fell as much as ¥956.57 to ¥65,256.22 at 10:06, but subsequently pared its losses on dip-buying. The exchange rate continued to trade around ¥159 to the dollar.
Among Nikkei constituents, The Japan Steel Works, Trend Micro, Fast Retailing, IHI and Sumitomo Pharma were among the top decliners by percentage. Meanwhile, Sumitomo Chemical, Kawasaki Kisen, Kioxia, Ricoh and NYK Line were among the top advancers.
Provided by Wealth Advisor Co.: The current market trend appears to be influenced by both movements in constituent stocks and the range-bound foreign exchange market.