The Tokyo stock market fell further in the afternoon session on the 29th, with the Nikkei Average repeatedly dipping below 60,000. With investors holding back ahead of the release of US economic indicators, overall trading also remained sluggish.
The Nikkei Average was reported by market participants to have fallen more than ¥900 from the previous day as of 1:34 p.m., marking a further decline. Some market participants said that buying was being held back, rather than selling being dominant.
The afternoon session opened at ¥65,141.41, down ¥736.21 from the previous day, and remained weak as elevated US and Japanese interest rates weighed on the market amid a lack of buying catalysts.
The morning closing price was ¥65,307.00, down ¥570.62 from the previous day. The ex-dividend date for the September dividend and uncertainty surrounding the Middle East situation were cited as downside factors. TOPIX stood at 4049.34, down 0.
Overall, 86% of stocks declined. Trading volume was 969.96 million shares, with trading value of ¥3.1125 trillion. By sector, oil and coal products, securities and commodity futures, mining, and iron and steel were among the biggest decliners.