The Nikkei Average was down ¥1,961 as of 1:50 p.m., as rising long-term interest rates strengthened risk-off sentiment. Firm downside support in Dow futures during after-hours trading is influencing the direction of the Tokyo market.
The Nikkei Average was down ¥1,961 as of 1:50 p.m., with SoftBank Group, Advantest and Tokyo Electron among the largest negative contributors, while Shionogi, Daiichi Sankyo and ITOCHU were among the largest positive contributors. All sectors are lower.
Domestic long-term interest rates have been trending higher, strengthening risk-off sentiment in the equity market. Meanwhile, the firm downside support shown by Dow futures in after-hours trading is reportedly providing some reassurance in the Tokyo market.
Market movements appear to be driven by domestic and overseas interest-rate trends and the performance of major stocks, while investors are closely watching the market's reaction going forward.