The Nikkei average eased its sharp morning decline in the afternoon session, with reassessment buying emerging following the morning selloff. Declines in AI and semiconductor-related stocks also weighed on the market at times.
The Nikkei Stock Average fell sharply in the morning. The morning session closed at ¥63,469.39, down ¥1,801.56 from the previous day, with little sign of a rebound. 63% of stocks declined, while trading volume was 1,332,460,000 shares and turnover was ¥4.9912 trillion.
The Nikkei opened the afternoon session at ¥63,361.04, down ¥1,909.91 from the previous day, as broad-based selling continued amid rising crude oil prices and higher U.S. interest rates. Declines in AI and semiconductor-related stocks also pushed down the broader market.
Against the backdrop of domestic and overseas factors affecting the market in the morning, about 80% of Prime Market stocks declined, while automobile stocks showed some firm movement. Signs of resilience also began to emerge among declining stocks.
As of the morning close, the Tokyo Stock Price Index (TOPIX) stood at 4,010.27, down 44.31 points. Although the market generally remained in a downtrend, some reassessment buying was observed.