Tokyo stocks narrowed their losses in mid-afternoon trading on the 9th, while some semiconductor stocks recovered. The Nikkei Stock Average had been trading down ¥529.81 from the previous day at the morning close, and at times its decline widened into the afternoon session.
The Nikkei Stock Average narrowed its losses in morning trading, while some semiconductor-related stocks, including Advantest, which attracted buying in the morning session, recovered. The TOPIX posted only a small gain, and the prevailing view was that buying overall was limited to short covering ahead of the holiday.
At the morning close, it could not be said that gainers outnumbered decliners across the Prime Market. The impact continued from selling of technology stocks following a report in the British press concerning US OpenAI’s revenue outlook. SoftBank Group fell more than 5%, contributing to the Nikkei’s decline.
At 10:15 a.m., the Nikkei’s decline widened, at one point exceeding ¥800. Technology stocks broadly continued to fall following reports that US OpenAI’s revenue would come in below previous forecasts. There was also a view that some stocks were attracting bargain buying following their morning declines.
The Nikkei opened down ¥393.61 at ¥68,648.50, and the Tokyo market as a whole fell, led by technology-related stocks.