The Nikkei 225 was down ¥662.31 at ¥69,373.40 in the morning session and traded below ¥70,000. Profit-taking selling continued against a backdrop of lower US stocks and higher crude oil prices.
The Nikkei 225 fell for a second consecutive session in morning trading, ending down ¥662.31 at ¥69,373.40. Trading volume was estimated at 971.95 million shares. Selling led the Japanese stock market following the decline in US equities.
Inflation concerns and rising long-term interest rates were cited as factors behind the previous day's decline in US stocks, and selling dominated the Nikkei 225 from the opening. The index fell below ¥70,000 approaching the morning close, and continued to widen its losses in afternoon trading.
Among individual stocks, Kioxia Holdings, Recruit Holdings, Advantest, Trend Micro and Lasertec were among the gainers, while SoftBank Group, Tokyo Electron, TDK, Fujikura and Fanuc were among the decliners. By sector, marine transportation and services were the only 2 sectors to rise; most other sectors declined.
While some expect afternoon trading to be range-bound near the lows, crude oil prices and interest rates are the focus, and some have pointed to the possibility that investor interest in stocks with strong earnings and results will increase.