The Nikkei Average fell sharply for a third straight session, declining to around ¥64,473.16 in morning trading on 2 September. SoftBank Group Corp. was the top negative contributor, dragging the index down by approximately ¥248 on its own.
Japanese stocks opened sharply lower on 2 September, with the Nikkei Average moving from ¥65,195.43 in the morning session and extending its losses toward the afternoon session. Declines were prominent across the market, with most stocks falling. Although the market showed some resistance to further losses during the day, it ultimately ended the morning session sharply lower.
Developments in the US market also weighed on sentiment. The Dow Jones Average closed lower again, and caution stemming from higher oil prices and rising long-term interest rates spread to the Japanese market. Selling spread from shortly after the open amid heightened geopolitical risks, resulting in a broad-based decline.
Among individual stocks, SoftBank Group Corp., Tokyo Electron, Advantest, TDK, Recruit Holdings and Fast Retailing fell. Only a handful of stocks, including Daiichi Sankyo, rose, helping limit the Nikkei Average's decline.
SoftBank Group Corp. was the top negative contributor, dragging the Nikkei Average down by approximately ¥248. Tokyo Electron, Advantest, TDK, Recruit Holdings and Fast Retailing were among the other leading decliners.