As of 10:00 a.m. in the Tokyo stock market, the Nikkei Average was sharply lower from the previous day, with declines in AI-related semiconductor stocks weighing on the index.
Around mid-morning trading on the 13th, the Nikkei Average on the TSE Prime Market extended its decline and was trading at around ¥67,400, approximately ¥1,600 below its level on the 9th, before the three-day weekend. AI- and semiconductor-related stocks were broadly sold following declines in US semiconductor stocks. SoftBank Group fell further, weighing on the Nikkei Average.
Meanwhile, energy-related stocks were bought as oil prices remained elevated amid rising tensions in the Middle East. Some market participants said financial sectors such as banks and insurers were rising on expectations that accelerating inflation would push interest rates higher. As of 10:00 a.m., estimated trading value on the TSE Prime Market was ¥2.5657 trillion, and trading volume was 682.81 million shares.
Among individual stocks, Tokyo Electron, Kioxia and Ibiden declined, while Fast Retailing, Konami Group and Toyota Tsusho rose. Market participants said the key to the Nikkei Average maintaining the ¥70,000 level would be whether the April-September earnings announcements confirm expanding demand for AI- and semiconductor-related products.