At the opening of the afternoon session, the Nikkei began with a narrower loss from the previous day. It was trading at 66,134.01, with continued selling in AI- and semiconductor-related stocks, while buying on dips provided support for the market.
The Nikkei Stock Average began the afternoon session at 177.92 points below the previous day's level, narrowing its loss as intraday trading got under way. At the morning close, declines continued on the Prime Market, while buying on dips helped reduce the market's losses. The Nikkei's morning closing level was 66,050.33, while the TOPIX stood at 4,177.85 points.
By sector, nonferrous metals, metal products and services declined, while electricity and gas, steel and wholesale trade advanced. Turnover was approximately ¥3.5795 trillion, and trading volume was approximately 1.1 billion shares.
The Nikkei had narrowed its loss again as of 9:59 a.m. AI- and semiconductor-related stocks that had risen rapidly in the past were being sold as concerns over their valuations emerged amid rising interest rates, weighing on the market overall. There was also a view that nearly half of the stocks on the Prime Market were rising.
At the open, the Nikkei fell 426.46 points from the previous day's close to 65,885.47, extending its decline. Selling in AI- and semiconductor-related stocks was cited as having pushed the Nikkei lower.