The Tokyo market remains soft. US stocks fell, with AI-related stocks coming under heavy selling pressure following Intel's earnings. Intraday futures movements and the dollar-yen exchange rate are also being reported.
The Tokyo market opened seemingly soft, with selling leading the market following the decline in US equities at the end of last week. The Dow Jones Industrial Average fell sharply from the previous day, while AI-related stocks, particularly semiconductor names, came under selling pressure following Intel's earnings.
The Nasdaq fell by more than approximately 3%, intensifying downward pressure across the market. In the foreign exchange market, the dollar-yen pair is trading in the mid-¥157 range. CME Nikkei futures closed below the previous day's close in both yen-denominated and dollar-denominated trading.
Looking ahead, developments in US markets and moves in AI-related stocks are seen as key factors for the market, while some expect buying to remain subdued after the market reopens following the holiday. The Nikkei 225 is expected to trade broadly in the ¥61,800–¥63,600 range.