In the Tokyo market after the holiday break, the Nikkei Average closed at ¥67,777.52, down ¥1,253.40 from the previous weekend. Selling in semiconductor-related stocks weighed on the market, while weaker US stocks and higher oil prices also dampened investor sentiment.
In the Tokyo Stock Exchange market after the holiday break, the Nikkei Average continued to fall, closing at ¥67,777.52, down ¥1,253.40 from the previous weekend. Following the previous day's selling of technology stocks in the US market, sell orders for semiconductor-related stocks swelled in Tokyo, while gains in US crude oil futures, driven by uncertainty surrounding the Middle East, also weighed on investor sentiment.
The Tokyo Stock Price Index, or TOPIX, closed 5.86 points higher at 4,100.67, posting a modest gain in contrast to the Nikkei Average's sharp decline. This indicated that although high-priced stocks pulled down the index, other stocks attracted buying.
Declines among major semiconductor companies stood out. KIOXIA Holdings fell 13.28% and Tokyo Electron dropped 7.15%. Advantest also declined, weighing on the Nikkei Average.
During trading hours, the Nikkei Average at one point fell more than ¥1,900. The morning session ended down ¥1,738.53 at ¥67,292.39, but the decline narrowed in the afternoon and the market recovered toward the close.