The Nikkei Average edged lower on the 3rd in the Tokyo stock market, closing down ¥111.16 from the previous day at ¥64,214.48. Trading company stocks attracted buying, while AI and semiconductor-related stocks fell and weighed on the market.
The Nikkei Average edged lower for a second straight session on the 3rd in the Tokyo stock market, closing down ¥111.16 from the previous day at ¥64,214.48. Buying led the market initially on the back of higher U.S. stocks and lower U.S. long-term interest rates, but uncertainty over the situation in the Middle East and expectations of higher domestic interest rates remained a drag, with trading continuing to move sideways around ¥64,400.
In the U.S. market, long-term interest rates fell following weak employment-related indicators, while technology stocks drove the market higher, providing support for the Tokyo market. During a period of balanced trading, Berkshire Hathaway CEO Abel's indication that the company intended to hold trading company stocks for the long term became a buying catalyst for the sector.
The Nikkei Average traded below its 75-day moving average, while the TOPIX remained relatively firm. Trading volume on the TSE Prime Market was 2,188.32 million shares, and trading value was ¥7.577 trillion. By sector, wholesale trade and marine transportation rose, while mining, nonferrous metals and foods declined.
Trading company stocks stood out among individual issues, with Mitsubishi, Toyota Tsusho and Mitsui & Co. among those attracting buying, while Fast Retailing, Advantest and Disco fell. AI and semiconductor-related stocks were generally weak at times, becoming a factor weighing on the index as a whole.