The Nikkei Average traded approximately ¥20 lower in the morning session on the 3rd. Buying led at the open on higher US stocks, but the market was pressured by selling from investors awaiting a rebound amid rising long-term interest rates and upward pressure on the yen.
The Nikkei Average traded approximately ¥20 below the previous day's level in the morning session on the 3rd, at around ¥64,310. Buying led at the open on a rebound in US stocks, but selling gained the upper hand amid concerns over rising long-term interest rates and expectations for a stronger yen. The index fell to ¥64,140.04 at 9:48 a.m.
By sector, 12 of the 33 sectors declined and 21 advanced. Mining, nonferrous metals, fisheries and agriculture, retail, real estate, precision instruments, and glass and ceramics stocks were soft, while oil and coal products and other financial stocks remained firm and at high levels.
In the currency market, the yen had moved toward a stronger level as of 10:07 a.m., weighing on the Nikkei Average. The yen-denominated Nikkei Average futures settlement price was approximately ¥385 higher than the previous day.
The report conveys developments in the Tokyo market and movements in individual stocks based on information provided by Wealth Advisor.