The Nikkei 225 started trading higher on the 16th for the first time in 4 days, but gains were capped by caution over rising interest rates worldwide, and the index eventually turned lower.
The Nikkei 225 opened at ¥63,672.13 on the 16th, up ¥188.03 from the previous day, starting trading higher for the first time in 4 days. Buying appeared to lead the market in reaction to the declines through the previous day, but the market's limited upside following movements in U.S. markets became a focus.
In overseas markets, the Dow and Nasdaq Composite extended their declines, while the SOX index rose. The Nikkei 225 futures settlement price was ¥63,405, up ¥85 from the settlement price on the Osaka Exchange.
In foreign exchange trading, the dollar was in the lower ¥155 range and the euro in the lower ¥179 range in morning trading, with the yen's weakening trend continuing. Caution over rising interest rates weighed on the market and restrained movements after the opening.
The market could be buffeted by movements in U.S. interest rates and the global market's risk-averse stance, and investors are closely watching developments ahead.