The Nikkei Average fell back in the Tokyo market on the morning of the 7th, with the morning close at ¥70,074.13, down ¥609.85 from the previous day. Concerns about short-term overheating were in focus, and profit-taking selling took the lead.
The Nikkei Stock Average fell back in the Tokyo stock market on the morning of the 7th, with the morning close at ¥70,074.13, down ¥609.85 from the previous day. The index rose briefly against the backdrop of gains in U.S. stocks the previous day, but selling eventually prevailed. The Nikkei Average had risen by nearly ¥2,400 over the preceding 2 days, and entered a correction phase.
High-priced semiconductor and AI-related stocks were sold, with Advantest and Tokyo Electron among those declining. Major beer companies Sapporo and Asahi were also sold, weighing on the Nikkei Average. Market sentiment was also affected by the Nikkei online edition's report of the Fair Trade Commission's compulsory investigation.
Although the market rose briefly in the morning, sentiment weakened against the backdrop of movements in long-term U.S. interest rates and signs of overheating in technical indicators. TOPIX was down 0.59% at 4,158.89 at the morning close, and TOPIX, including stocks included in the JPX-Nikkei Index 400, weakened. The Nikkei Average continued to fall at the close.
By stock, Kioxia, TDK and Disco fell, while SoftBank Group, Taiyo Yuden and Suzuki rose. Trading value on the TSE Prime Market was approximately ¥3.8819 trillion, and trading volume was approximately 1.0178 billion shares. Declining issues totaled 1,047, advancing issues 454 and unchanged issues 51.