The Nikkei Average was down about ¥390 at around ¥65,870 in the morning session. Buying led by a positive reaction to Nvidia's earnings, but selling by investors awaiting a rebound weighed on the market, maintaining a downward trend.
The Nikkei Average traded about ¥390 lower than the previous day at around ¥65,870 in the morning session on the 27th. Buying led by Nvidia's strong earnings in the morning, but after the initial buying ran its course, selling by investors awaiting a rebound capped gains and the index turned lower. US markets were in a wait-and-see mood ahead of earnings announcements, while rising interest rates weighed on the market and New York stocks fell. The settlement price for Nikkei 225 futures in Chicago was reported to be weak.
By sector, 12 of the 33 sectors declined and 21 advanced. Some nonferrous metal and precision instrument stocks fell, while glass and ceramics stocks and pharmaceutical stocks were also soft. Mining and oil and coal product stocks rose, and banking and textile stocks were also reported to be higher.
In the daytime foreign exchange market, the dollar-yen rate was reported to be trading in the lower ¥159 range and the euro-yen rate in the middle ¥185 range. Wealth Advisor was identified as the source, and attention is focused on foreign exchange trends alongside market movements.
Overall, buying on Nvidia's earnings provided support and the market briefly recovered, but selling by investors awaiting a rebound prevailed, and the Nikkei Average continued to test lower levels.