The Nikkei average opened the afternoon session at ¥62,064.27, down approximately ¥843 from the previous day. Nikkei 225 futures traded within a range during the lunch break, the yen was weak against the dollar, and Asian markets were generally soft.
At the afternoon session open, the Nikkei average stood at ¥62,064.27, down ¥843.57 from the previous day. It started lower after narrowing its decline from the morning close. Nikkei 225 futures traded in a range of ¥61,900–¥62,270 during the lunch break, while the dollar-yen rate was around ¥156.90–¥157.00 per dollar, representing yen weakness of approximately 40 sen against the dollar from around 9:00 a.m.
By sector, banks, non-ferrous metals and electric appliances recorded the largest declines, while real estate, retail, and fisheries and agriculture posted the strongest gains. Among the stocks ranking highest by trading value on the Japanese stock market were Mitsui Mining & Smelting, TDK, Resona Holdings, SUMCO and JX Advanced Metals, all of which declined.
The Nikkei average appeared to be treating the 200-day moving average, in the ¥61,400 range, as downside support. At the same time, there was speculation that rising crude oil futures and weakness in Dow futures in after-hours trading were factors warranting caution in overseas markets.
According to information reported by Fisco, buying was somewhat dominant at the start of afternoon trading in the Tokyo market, compared with the morning close. Stocks cited as gainers included Fast Retailing, Tokio Marine, Sony Group, JT and Toyota.