In mid-morning trading in Tokyo on the 29th, the Nikkei 225 extended its decline and was trading about ¥650 below the previous day. A sharp drop in SoftBank Group was weighing on the broader market.
In mid-morning trading in Tokyo on the 29th, the Nikkei 225 was about ¥650 below the previous day and was trading near the low end of the ¥65,200 range. At one point after 10 a.m., the decline exceeded ¥700. With the market reaching the ex-rights date, selling to raise cash related to the ex-rights date for interim dividends at companies with fiscal years ending in March was also spreading. The decline in SoftBank Group, the parent company of leading U.S. semiconductor designer Arm, was cited as a factor weighing on the Nikkei 225.
Meanwhile, Tokyo Electron and Disco had remained firm since the morning, and some AI- and semiconductor-related stocks were also seen supporting the Nikkei 225 at times. Hirotake Tsuboi (坪井 裕豪) of Daiwa Securities pointed out that buying ahead of the results announcement from Micron Technology in the United States may be taking place.
Provided by Wealth Advisor.