The Nikkei remained soft at the midday break, tracking the direction of U.S. markets. AI-related and semiconductor stocks were sold, and the decline at one point widened to more than ¥1,300, but the index recovered slightly toward the end of morning trading.
In morning trading, the Nikkei Stock Average fell ¥1,033.77 from the previous day to ¥65,266.67, while TOPIX fell 15.13 points to 4,031.04. Trading volume was 1,148.45 million shares, with trading value of ¥4.7481 trillion. 33% of stocks declined, while 63% advanced. By sector, nonferrous metals and electrical equipment fell, while foods and pharmaceuticals rose.
At 9:57 a.m., the Nikkei had widened its decline after the market opened, at one point falling more than ¥1,100. AI-related stocks, led by semiconductor issues, were sold, weighing on the index. Market participants said that easing inflationary pressure due to lower crude oil prices was broadening buying.
At the open, the Nikkei Stock Average started ¥404.44 below the previous day's close at ¥65,896.00, as selling of AI-related stocks, including semiconductor issues, continued. Overall, gainers outnumbered decliners across the Prime Market, while concerns about the outlook for AI demand and related stock movements remained in focus.
(End) Reported by Jiji Press and distributed by Yahoo! Finance.