The Nikkei average extended its decline in the morning session, trading at 62,214.66 yen, down 478.50 yen from the previous day. With multiple events, including earnings from major US technology companies, due later this week, the market lacked direction, while the TOPIX remained in positive territory.
The Nikkei average extended its decline in the morning session, ending at 62,214.66 yen, down 478.50 yen from the previous day. With events including earnings announcements from major US technology companies and monetary policy meetings by the central banks of Japan, the US and Europe scheduled for this week, investors were reluctant to take positions.
Major AI and semiconductor-related stocks, including Advantest, were sold, putting downward pressure on the Nikkei average at times. Meanwhile, nearly 60% of stocks on the Tokyo Stock Exchange Prime Market rose, leaving the TOPIX modestly higher.
Firm crude oil prices supported mining, oil and coal products, and trading company stocks, while rising yen interest rates prompted buying in bank and insurance stocks. Brazil-linked ETFs plunged following reports that Luiz Inácio Lula da Silva was virtually certain to win election as Brazil's president.
The TOPIX ended the morning session up 0.34% at 3,979.34 points, while trading value on the Tokyo Stock Exchange Prime Market was ¥3.24542 trillion. There were 900 advancers, 605 decliners and 48 unchanged issues.