The Nikkei Average closed ¥429 lower in the Tokyo stock market, while semiconductor shares were sold on concerns related to NVIDIA. Buying also retreated at times as stocks ahead of their earnings periods showed mixed movements.
Although buying led the market in the morning, the Nikkei Average turned negative in the afternoon, closing at ¥60,819.36, down ¥429.23 from the previous day. Estimated trading volume on the Prime Market was more than 27.27 million shares, and estimated trading value was ¥908.67 billion. There were 959 advancing issues, 548 declining issues and 44 unchanged issues.
Uncertainty about the outlook intensified following reports that NVIDIA was preparing to dismiss CEO Jensen Huang, prompting investors to hold back from buying, particularly in major semiconductor-related shares. Some viewed the rebound following the sharp drop at the end of the previous week as having run its course, and market sentiment remained directionless.
By industry, 27 of the 33 sectors rose, while Advantest, SoftBank Group, Ibiden, Fujikura, Kioxia Holdings, Murata Manufacturing, TDK and Taiyo Yuden were weak. Recruit Holdings, Fanuc and BayCurrent were also lower. Konami Group, KDDI, Secom, Sony Group and Terumo were comparatively firm.
Among individual stocks, Tokyo Electron and Shin-Etsu Chemical maintained their firmness, while JT rose sharply. Achilles and Teika also posted notable gains at times.