The Nikkei Average was down ¥69, with weak Dow futures weighing on the Tokyo market and limiting upside. Today is the final trading day with rights to interim dividends and shareholder benefits for companies with March year-ends, and buying to secure entitlements has also been observed.
As of 13:50, the Nikkei Average was down ¥69. Among the stocks with the largest contributions, Ibiden, Kioxia Holdings and Fast Retailing were among the largest negative contributors, while Advantest, Tokyo Electron and SoftBank Group were among the largest positive contributors. By sector, pharmaceuticals, pulp and paper, mining, and fabricated metal products were notably lower, while insurance, banks, electric power and gas, transportation equipment, and securities and commodities futures posted modest gains.
While some market participants viewed weak Dow futures in after-hours trading as a drag on share prices in the Tokyo market, others pointed to buying to secure entitlements as providing support for share prices.