The Nikkei Average fell sharply by ¥1,801.56 from the previous day to ¥63,469.39 during the morning session on the 11th. Risk aversion intensified against a backdrop of lower US stocks and heightened tensions in the Middle East, with the decline widening during trading hours.
The Nikkei Average fell ¥1,801.56 from the previous day during the morning session on the 11th, reaching ¥63,469.39. TOPIX also fell 44.31 points to 4,010.27, as selling spread across a broad range of stocks. Selling following the decline in US stocks and weakness in semiconductor stocks amid rising interest rates weighed on the market. At 9:20 a.m., the index had fallen as much as ¥2,062.32 to ¥63,208.63.
By sector, 27 of the 33 sectors declined and 6 advanced, with decliners predominating. Sumitomo Metal Mining and Fujikura fell among nonferrous metal stocks, while Advantest and Lasertec declined among electrical equipment stocks. Nikon and HOYA among precision instruments stocks, and SUMCO and Sanwa Holdings among metal products stocks, were also lower.
Meanwhile, mining stocks including INPEX and Japan Petroleum Exploration, as well as shipping stocks including Nippon Yusen and Kawasaki Kisen, remained at high levels. Resonac, Micronics Japan, Nittetsu Mining, Sato Shoji and KOUSSA declined, while Kamakura Shinsho, The First Bank of Toyama, Takara Tomy, Bengo4.com and En Japan advanced.
According to market commentary provided by Wealth Advisor, there is a view that heightened tensions in the Middle East are prompting investors to avoid risk.