The Nikkei Average fell in the morning session on the Tokyo Stock Exchange. Selling in AI- and semiconductor-related stocks spread from the start of trading, briefly pushing the index below ¥64,000.
The Nikkei Average fell approximately ¥790 from the morning opening to end the morning session at ¥64,534.03. Selling was concentrated in AI-related and semiconductor stocks from the start of trading, with the index briefly falling to ¥63,831.78, but the decline moderated, influenced by movements in crude oil futures and other factors in off-hours trading.
The decline in U.S. markets weighed on AI and semiconductor stocks in Japan, with a sharp drop in CoreWeave's bonds and a decline in the SOX Index adding to the pressure. Economically sensitive stocks also weakened because of higher oil prices, while defensive stocks provided support.
The TOPIX ended the morning session down 0.39% at 4,050.34 points. Trading value on the TSE Prime Market was ¥3.272471 trillion. By sector, mining, marine transportation, and oil and coal products rose, while nonferrous metals and electrical equipment declined.
Among individual stocks, SoftBank Group was weak, while Disco and Lasertec fell sharply. Kioxia Holdings, which had opened lower, turned higher, and JT and Oriental Land set new year-to-date highs.