The Nikkei fell for the first time in 6 trading days on the 28th in the Tokyo stock market. Profit-taking sales following the sharp rise at the end of the previous week and declines in the South Korean market pushed down share prices.
The Nikkei fell for the first time in 6 trading days on the 28th in the Tokyo stock market. It closed ¥486.58 below the end of the previous week at ¥65,877.62, its low for the day. The index had risen by about ¥3,000 over the 5 trading days through the end of the previous week, prompting profit-taking sales.
The Nikkei rose by more than ¥600 in morning trading and at one point recovered to the ¥60,000 range, supported by buying in AI and semiconductor-related stocks. However, selling spread as investors became satisfied with the gains, pushing the Nikkei down again. Long-term interest rates rose on expectations of higher US interest rates, prompting investors to focus on the relatively high valuations of equities.
Several important events are scheduled in the United States this week. OpenAI's annual developer conference, in which SBG has invested, and Micron Technology's quarterly earnings announcement are due, along with the release of US employment data. Some market participants said that long-term-oriented institutional investors had adopted an increasingly wait-and-see stance.
The Tokyo Stock Exchange Prime Index closed down 0.40% at 4,112.00, and other indicators besides the Nikkei were also weak. Trading value was approximately ¥8.2028 trillion and trading volume was approximately 2.41504 billion shares, with declining issues accounting for about 60% of the total.