The Nikkei Stock Average is expected to retreat in Tokyo trading on the 31st, as selling was triggered by developments in U.S. markets and the Federal Reserve chair's speech. The decline in U.S. semiconductor-related stocks was reportedly a particular drag.
The Nikkei Stock Average is expected to retreat in Tokyo trading on the 31st, with the Federal Reserve chair's speech on the previous day, the 28th, being taken as hawkish. As U.S. stocks remained weak, selling is likely to have spread to the domestic market.
Market participants say expectations for an early U.S. rate hike have strengthened, increasing investors' risk-averse stance.
The sharp decline in the SOX Index, which comprises major semiconductor-related stocks, was reportedly a drag on the Nikkei Stock Average.
The move followed the trend in U.S. stocks from the 29th through the 31st and attracted attention as a factor influencing the direction of the domestic market.