The Nikkei Average fell sharply, with selling spreading across semiconductor-related stocks amid rising interest rates and higher oil prices. As of the latest data, the Nikkei stood at 63,361.04, down 1,909.91 points, or 2.93%, from the previous day.
As of 11:35 a.m., the Nikkei Average stood at 63,361.04, down sharply by 1,909.91 points from the previous day, for a decline of approximately 2.93%. Rising interest rates and higher oil prices were being closely watched across the market, and it was also reported that selling had spread to semiconductor-related stocks.
In U.S. market developments, the NY Dow closed at 52,064.10, down 316.56 points, or 0.61%, from the previous day. The Shanghai Composite stood at 3,934.40, down 17.10 points, or 0.43%.
Rising interest rates and higher oil prices were cited as the backdrop, prompting the view that semiconductor-related stocks were particularly prone to selling across sectors.
The report was issued as a lunchtime market update, and attention is expected to remain focused on developments in the U.S. market and energy markets for the outlook.