Tokyo stocks were soft at the post-lunch opening on the 29th, with few buying catalysts. The Nikkei 225 started the afternoon session around ¥736 below the previous day's level and remained sharply lower at the morning close, extending its decline.
At the post-lunch opening, the Nikkei 225 started at ¥65,141.41, down ¥736.21 from the previous day, as the lack of fresh buying catalysts and persistently high interest rates weighed on the market.
At the morning close, the Nikkei 225 was down ¥570.62 at ¥65,307.00, extending its decline. The Tokyo Stock Price Index (TOPIX) stood at 4049.34, with trading volume at 969.96 million shares and trading value at ¥3.1125 trillion. Declining issues accounted for 86% of the market, while 10% advanced.
By 10:10 a.m., the Nikkei 225 had temporarily widened its decline to more than ¥700. The ex-dividend adjustment pushed the index lower, while some market participants said the combination of rising crude oil prices and persistently high interest rates was affecting the Japanese market through its impact on overseas markets.
At the opening, the Nikkei 225 started at ¥65,557.99, down ¥319.63 from the previous day. Although stocks traded lower following the September interim dividend adjustment, some semiconductor-related issues attracted buying.