The Nikkei Average was trading around ¥200 lower in the morning session on 2 November. Although it came under selling pressure early in the session, the decline eased after selling subsided as investors targeted a short-term rebound.
The Nikkei Average was trading around ¥63,100 in the morning session on 2 November, down approximately ¥200 from the previous Friday. It reached ¥62,712.91 at 9:06 a.m., but moves afterward limited the downside. In the Osaka Exchange night session, the December Nikkei 225 futures contract was around ¥62,600, down ¥890 from the previous Friday.
By sector, 16 of the 33 sectors declined and 17 advanced. Warehouse and transport, precision instruments, banking and nonferrous metals stocks fell, while food stocks rose. Information and communications and other financial stocks were also weak.
In the Tokyo foreign exchange market, as of 10 a.m., the dollar was trading in the mid-¥157 range and the euro in the low ¥176 range, with currency movements affecting market sentiment.
As for market trends, buying aimed at a rebound is expected to limit the Nikkei Average's downside, and buying back positions was seen mainly in selected stocks. Source: based on reporting by Wealth Advisor.