The Nikkei average fell sharply in Tokyo trading on the 7th, standing at ¥70,074.13 as of the morning session close, down ¥609.85 from the previous day. Profit-taking selling for the time being has prevailed after the index rose more than ¥2,300 over the past 2 days.
The Nikkei average stood at ¥70,074.13 at the morning session close in Tokyo trading on the 7th, down ¥609.85 from the previous day. Through that day, the index had risen by more than ¥2,300 in total over the previous 2 trading days.
On the 7th, selling orders to lock in profits for the time being prevailed after the index returned to the ¥70,000 range. Some AI- and semiconductor-related stocks, which have a significant impact on the Nikkei average, were also sold.
Market participants said they viewed the move as reflecting a sense of achievement after the index reached the ¥70,000 range again.
The move is being regarded as a temporary correction, and investors are focused on future developments and the response of individual stocks.