The Nikkei Average suffered a sharp retreat on 22 October, closing at ¥62,907.84, down ¥1,713.40 from the previous day. Declines in semiconductor-related shares weighed on the market, while developments in US equities and after-hours trading also had an impact.
The Nikkei Average suffered a sharp retreat on 22 October, closing at ¥62,907.84, down ¥1,713.40 from the previous day, or 2.65%. Declining issues outnumbered advancing issues on the Prime Market, and the market remained broadly bearish.
By sector, semiconductor-related shares fell across the board, while individual stocks including Advantest and TOKYO ELECTRON extended their declines. Some non-semiconductor stocks, however, showed relatively firm performance. Lam Research's after-hours decline and weakness in South Korean equities also weighed on sentiment.
At one point, AI-related stocks were bought following SpaceX's earnings results, amid developments in the US stock market. However, profit-taking prevailed in Japan, and the broader market extended its losses into the afternoon session. Trading volume on the TSE Prime Market was approximately 2.19167 billion shares, while trading value was approximately ¥7.0569 trillion.