The Nikkei Average was down ¥1,419 as of 1:50 p.m., while firm Dow futures have been supporting Tokyo stocks. With the U.S. CPI release tonight and key U.S. and Japanese events scheduled for next week, investors have increasingly adopted a wait-and-see stance.
The Nikkei Average fell sharply, with Advantest, SoftBank Group and Tokyo Electron among the top negative contributors, while Toyota Tsusho, Kyocera and Bandai Namco HD were positive contributors. By sector, nonferrous metals, electrical equipment, metal products, precision instruments and machinery were the biggest decliners, while mining, insurance, marine transportation, transportation equipment and wholesale were the top gainers.
Dow futures have remained firm in after-hours trading, providing support for Tokyo stocks. Meanwhile, the U.S. consumer price index (CPI) for August is due tonight, followed next week by the FOMC and the Bank of Japan's monetary policy meeting. As a result, many market participants say they want to assess the key events both today and thereafter.