Tokyo stocks opened sharply lower, with the Nikkei 225 beginning trading at ¥68,564, down ¥466. Risk-off moves intensified against a backdrop of declines in US semiconductor stocks, while the Nasdaq fell and the SOX posted a sharp decline.
At the open of Tokyo trading on the 13th, selling was dominant and the Nikkei 225 began trading at ¥68,564, down ¥466 from the previous trading day. In the US stock market, the Dow maintained its upward momentum, while the tech-heavy Nasdaq Composite fell.
Semiconductor stocks saw particularly heavy selling, with the SOX Index down 2.7% and falling for a 4th straight session. Selling was pronounced in memory-related stocks Micron Technology MU and SanDisk SNDK, which was seen as a headwind for the Tokyo market.
The market was said to be in a risk-off phase, while futures-led moves tested lower levels. Attention focused on whether the market would stop falling after the selling subsided.