The Nikkei 225 fell for the first time in 6 trading days on the 28th. Buying led before the open, but gains stalled toward the afternoon session and the decline widened again late in the day. Major stocks moved in different directions, with many decliners concentrated in semiconductor-related names.
The Nikkei 225 fell for the first time in 6 days, closing at ¥65,877.62, down ¥486.58. It rose as high as 67,034.74 after the open, but profit-taking sales spread after the initial buying subsided, resulting in range-bound trading around the previous close.
Among individual stocks, SoftBank Group was generally firm, while Ibiden, Kioxia HD, Fast Retailing and Chugai Pharmaceutical ended weaker. Moves related to changes in the Nikkei 225 constituents and dividends were observed, but selling pressure prevailed overall.
Some major stocks attracted buying at times against the backdrop of US market trends, but weakness in the South Korean market and movements in long-term interest rates weighed on sentiment. The market widened its losses in the afternoon and closed lower. Views are spreading that the market tone for AI-related and semiconductor stocks will continue.
Overall market weakness was also affected by resistance at the 75-day moving average, and some expect sentiment to take time to improve.