The Nikkei 225 opened 374.25 points lower at 64,768.53, trading broadly weak against a backdrop of movements in U.S. stocks and crude oil prices. Caution intensified ahead of the release of several major economic indicators and policy decisions.
The Nikkei 225 opened 374.25 points lower at 64,768.53 on the 10th, with selling prevailing from the outset against a backdrop of declines in U.S. stocks the previous day and higher crude oil prices. The Dow Jones Industrial Average fell, while the Nasdaq also ended lower. Renewed attention to rising long-term interest rates and inflation concerns weighed on sentiment, and the market remained weak throughout the session after the open.
Investors held back from aggressive buying ahead of tonight's U.S. producer price index and next week's U.S. CPI release, as well as key events involving the Bank of Japan and the FOMC. Some semiconductor-related stocks were supported by the rise in the SOX Index, but risk aversion strengthened across the market as a whole.
By sector, Other Products, Nonferrous Metals, Construction, Retail Trade and Precision Instruments were among the biggest decliners, while Oil and Coal Products, Air Transportation and Services were among the top gainers. Many of the most actively traded stocks on the TSE Prime market, including Mitsui Mining & Smelting and Marubeni, fell, while Panasonic Holdings, Lasertec and Recruit Holdings advanced.
In weekly trading data released before the market opened, foreign investors were net buyers of Japanese equities for the second consecutive week during the period from 8/30 to 9/5, with net purchases totaling ¥690 billion.