Real estate stocks rose against the broader market in Tokyo trading on the 23rd, as funds flowed into the sector. The decline in domestic long-term interest rates is seen as the reason.
Real estate stocks rose against the broader market in Tokyo trading on the 23rd. Funds flowed into real estate stocks as domestic long-term interest rates fell, while selling intensified in artificial intelligence (AI) and semiconductor-related stocks.
The Nikkei Stock Average extended its decline, falling ¥214 (0.3%) from the previous day to ¥62,693. At one point, the decline exceeded ¥1,400.
The real estate sector of the Nikkei Stock Average was up approximately 2% from the previous day, highlighting the relative improvement in financing conditions for the real estate sector.
Among individual stocks, Mitsubishi Estate rose approximately 3%, with the inflow of funds into real estate stocks on the back of lower domestic interest rates helping to push up its share price.