The Nikkei Average started 14 September trading at ¥63,659.53, down ¥351.81 from the previous day. After the opening, the decline began to narrow following a period of temporary turbulence, against a backdrop including lower crude oil prices. Market conditions continue to be influenced by developments in US markets and expectations surrounding central bank events. Some market observers say attention should be paid to the performance of major technology stocks in the short term.
The Nikkei Average started 14 September trading at ¥63,659.53, down ¥351.81 from the previous day. While strong gains in the Dow and Nasdaq in the US market strengthened expectations of an early rate hike, the subsequent decline in crude oil prices provided some relief, and the market showed resilience after the opening.
Among the stocks with the highest trading value on the TSE Prime Market, Kioxia Holdings, Advantest, Murata Manufacturing, Tokyo Electron, Taiyo Yuden, Fujikura, Lasertec, Ibiden, Disco and KOKUSAI declined. Mitsubishi UFJ, Recruit Holdings and Tokio Marine, among others, rose.
By sector, nonferrous metals, glass and ceramics products, and electric appliances were among the biggest decliners. Market observers said the performance of major technology stocks remained a drag on the market throughout the day. Some also pointed to growing concerns over crude oil supplies.
Some observers also said that investors were likely to remain on the sidelines ahead of central bank events this week. Although the market overview at the opening pointed to a lower start, it could remain firm throughout the day, and attention is focused on its subsequent direction.