In the afternoon session on the 8th, the Nikkei Average narrowed its losses and recovered into positive territory, while dollar-yen fell sharply as the unwinding of yen-selling positions progressed. With SoftBank Group the top contributor to gains and Advantest in second place, attention focused on afternoon market developments.
In the afternoon session on the 8th, the Nikkei Average traded around the morning closing level. It opened the morning session down ¥556.15, then narrowed its losses and recovered into positive territory. Among individual stocks, SoftBank Group, Advantest, Fast Retailing and Kioxia Holdings rose, while TDK and Murata Manufacturing were among the decliners.
Dollar-yen fell sharply, declining from 154.37 to 152.88. The unwinding of yen-selling positions progressed, and major currencies showed a move toward yen buying. The intraday ranges were 152.88–154.37 for USD/JPY, 177.86–179.44 for EUR/JPY and 1.1623–1.1634 for EUR/USD.
Among the stocks monitored in the afternoon, five stocks, including WITZ and iFreeETF US Dollar Bear (1x), were at times pinned at their upper price limits. SoftBank Group was the top contributor to gains, followed by Advantest in second place.
Among economic indicators and comments from officials, Japan's Monthly Labour Survey, revised DP figures, GDP deflator and balance of payments were released or announced, while comments by Health, Labour and Welfare Minister Ueno (上野) and Finance Minister Katayama (片山) were also reported. These were reported as factors affecting short-term market movements.