The Nikkei average started the afternoon session around ¥650 below the previous day's level. Declines had led the market in the morning, with Yodogawa-related stocks and Tokyo Electron among the decliners.
The Nikkei average started the afternoon session at ¥68,306.14, down ¥650.58 from the previous day and roughly in line with the morning close of ¥68,326.72. Nikkei 225 futures moved sideways during the lunch break in a ¥68,410–¥68,570 range, while USD/JPY traded at ¥157.80–157.90 per dollar, also broadly unchanged from around 9:00 a.m. The Shanghai Composite was closed, while the Hang Seng Index fell sharply by about 2.7%. With the release of the September U.S. employment report approaching, there were notable instances of investors holding back from aggressive buying, although some viewed the firmness of the downside seen in the morning as supportive.
By sector, securities and commodities futures, real estate, and transportation equipment were notable decliners, while nonferrous metals, mining, and oil and coal products advanced. Among stocks with the highest trading value, SoftBank Group, Yodogawa-related stocks, Nissan Motor, Tokyo Electron, Rakuten Group, ORIX, and Tokio Marine declined. Furukawa Electric, Resonac, Fujikura, Sumitomo Electric, Advantest, Mitsui Kinzoku, SUMCO, Ibiden, NEC, and Lasertec rose.
The September U.S. employment report is scheduled for release tonight, and some market participants said they wanted to assess its implications. Although the morning's trading suggested firm downside support, the afternoon opening level remained roughly in line with the morning close.