On the 31st, the Nikkei average fell ¥93 to close at ¥66,311.93, after briefly dropping more than ¥1,500 in the morning before buybacks in the afternoon narrowed the decline.
In Tokyo stock market trading on Monday the 31st, the Nikkei average fell ¥93.63 from the previous Friday to close at ¥66,311.93, marking its first decline in two trading days. It briefly fell more than ¥1,500 in the morning amid expectations of a US interest-rate hike, but buybacks spread into the afternoon, significantly narrowing the decline.
In morning trading, the Nikkei average fell ¥1,043.96 from the previous day's close to ¥65,361.60, while TOPIX was also down about 372 points as of the morning session. Market participants appeared to believe that concern over higher corporate interest payment burdens as long-term interest rates rose had dampened investor sentiment.
In the afternoon, however, buybacks prevailed after selling subsided, and dip-buying emerged at levels below ¥65,000, rapidly narrowing the decline. While the Nikkei average fell, TOPIX closed higher, with buying reported in domestic-demand-related and cyclical stocks.