The Nikkei average opened the afternoon session at ¥66,134.01, down ¥177.92 from the previous day, narrowing its decline from the morning session. Furukawa Electric and Fujikura declined.
The Nikkei average began the afternoon session at ¥66,134.01, down ¥177.92 from the previous day, narrowing its decline from the morning close of ¥66,050.33. Nikkei 225 futures traded in a lunchtime range of ¥66,010–¥66,280, while the dollar-yen rate was around ¥159.70–¥159.80. In Asian markets, the Shanghai Composite remained near the previous day's close, while the Hang Seng continued to trade weakly. There was also speculation that rising domestic long-term interest rates were a factor of concern.
By sector, nonferrous metals, services and metal products posted the largest declines, while iron and steel, electric power and gas, and mining posted the largest gains. Among the stocks with the highest trading value, Furukawa Electric, SUMCO, Fujikura, Toyo Engineering, KOKUSAI, Tokyo Electron, Renesas Electronics, Pan Pacific International Holdings, Mitsui Mining & Smelting and DISCO declined. In contrast, SQUARE ENIX HOLDINGS, Tokyo Electric Power Company Holdings, Nippon Steel, Kansai Electric Power, Mitsui & Co., Sanrio, JFE Holdings, Toyota, Mitsubishi Corporation and ITOCHU advanced.
Market participants showed buying interest at the start of the afternoon session, although individual stock disparities remained pronounced. Rising domestic long-term interest rates were cited as a factor behind the Nikkei average's decline, and the market may continue to await further developments in futures and the currency market.
Investors tracking related stocks will need to monitor the performance of declining and advancing stocks, sector-by-sector gainers and decliners, and the market's subsequent reaction.