The Nikkei 225 opened at ¥66,104.49, down ¥27.49 from the previous day, while the TOPIX also began trading slightly lower. Tokyo stocks edged lower in morning trading, with developments in major U.S. share prices and concerns related to the Federal Reserve serving as market cues.
The Nikkei 225 extended its decline at the opening of the Tokyo stock market on the 28th, beginning trading at ¥66,104.49, down ¥27.49 from the previous day. The market was influenced by the rebound in U.S. equities and moves in semiconductor-related stocks, while the 25-day moving average was also seen providing downside support for the Nikkei 225.
In the United States, the Dow Jones Industrial Average edged higher and the Nasdaq remained firm. Positive sentiment toward NVIDIA's earnings and strong employment data supported investor sentiment. At the same time, higher crude oil prices, rising long-term U.S. interest rates and concerns related to the Federal Reserve acted as factors limiting gains.
By sector, retail, land transportation, nonferrous metals and construction were among the decliners, while electrical equipment, machinery and transportation equipment were among the gainers. ORIX was among the decliners on the TSE Prime Market, while Renesas Electronics was among the advancing stocks.
Among domestic developments on the 27th, economic indicators including a 2.4% unemployment rate, a 1.18x job-offers-to-applicants ratio and a month-on-month increase in the Tokyo metropolitan-area core CPI were released along with market forecasts. Overseas investors were reported to have been net sellers of Japanese equities, with net sales of ¥764.1 billion.