The Nikkei Stock Average fell back, closing at ¥66,311.93, down ¥93.63 from the previous day. Rising U.S. long-term yields and declines in U.S. semiconductor shares, against a backdrop of expectations for a U.S. rate hike, weighed on the market. The decline exceeded ¥1,500 in the morning, but buying emerged in the afternoon, narrowing the loss by the close.
The Nikkei Stock Average fell back on the 31st in the Tokyo stock market, closing at ¥66,311.93, down ¥93.63 from the previous day.
Selling prevailed at times against a backdrop of rising U.S. long-term yields and declines in U.S. semiconductor shares at the end of the previous week, with the decline exceeding ¥1,500 at one point in the morning.
Buying subsequently emerged on perceptions that the market remained firm, narrowing the decline and containing losses from intraday levels.
The day's move followed the spillover into the Japanese market of developments in the U.S. market, against a backdrop of expectations for a U.S. rate hike.