Tokyo stocks ended sharply lower, with the Nikkei 225 closing ¥1,259.61 lower at ¥64,011.34. Higher crude oil prices and risk-averse selling were the backdrop, while pronounced declines in Advantest and Kioxia saw the Nikkei 225 break downward out of a triangle consolidation, suggesting further weakness.
The Nikkei 225 closed ¥1,259.61 lower at ¥64,011.34 in Tokyo, with the decline at one point seen exceeding ¥2,000. As crude oil prices remained in the $100 range, a stronger risk-averse stance among investors prompted selling.
The Nikkei 225 was reported to have broken downward out of a "triangle consolidation," suggesting a further decline across the broader market.
In individual stocks, reports also noted that although interest in bank stocks remained strong, the market staged a rebound despite concerns about the unwinding of Aichi Financial Group's integration. A renewed rise in long-term interest rates toward around 3% was also flagged.
Looking ahead, the August U.S. CPI data are expected to be the market's main focus. Whether the year-on-year increase slows to the market forecast of 3.3% may become a key point of attention.