The Nikkei Average fell from the previous day in Tokyo stock market trading on 1 September. Rising long-term interest rates weighed on the market, with selling in semiconductor stocks leading the decline, although the market subsequently showed signs of recovery as investors bought back shares.
The Nikkei Stock Average ended the day's trading at ¥66,215.34, down ¥96.59, or 0.15%, from the previous day, marking its second consecutive day of decline. Although it fell sharply at one point in the morning, buying to cover losses emerged toward the afternoon session.
Rising long-term interest rates were seen as a drag on the market, prompting selling led by semiconductor-related stocks. Bank stocks and others that benefit from higher interest rates were bought, however, and the market temporarily recovered into positive territory. The TOPIX rose 25.57 points to 4,181.86.
While weakness in semiconductor-related stocks weighed on the market, buying in financial stocks provided support, and the Nikkei Average rebounded toward the close.