Selling spread across a broad range of stocks in the Tokyo market, with the Nikkei Average widening its intraday decline before the close. The Nikkei finished at ¥64,075, down ¥841 from the previous day, while the TOPIX fell back for the first time in 3 sessions at 4,009 points, and the TSE Growth Index also continued to decline.
The Nikkei Average fell as low as ¥64,755 at the open, weighed down by rising interest rates in Europe and the US and selling in stock-index futures. It stood at ¥64,512 at the morning close, showing a relatively moderate decline, but selling regained the upper hand in the afternoon and declines across a broad range of stocks pushed the market lower.
The Nikkei's intraday decline exceeded ¥1,000 at one point, but it ultimately closed at ¥64,075, down ¥841. The TOPIX fell 58 points to 4,009, while the TSE Growth 250 Index fell 21 points to 745, extending its decline.
Among individual stocks, Mitsubishi UFJ Financial Group fell 3.7% to ¥3,351. Fast Retailing rebounded, rising 2.0% to ¥75,360, as investors anticipated improved future profitability following Uniqlo's announcement of price increases. Trend Micro fell sharply for a second straight session, down 4.8% to ¥6,700, as reports of free licence provision in response to a sharp increase in cyberattacks prompted selling.
Koei Tecmo Holdings rose 3.8% to ¥1,741.5 as buying followed an increase in operating profit in its interim results for the current fiscal year. Shirai Electronics rebounded sharply, rising 18.1% to ¥522, after raising its net profit forecast for the current fiscal year.