Against a backdrop of lower US equities, the Nikkei Average remained down more than ¥662 in the morning session and extended its decline toward the close. The TOPIX also fell sharply, with nearly 90% of Prime-listed stocks declining.
The Nikkei 225 Average fell ¥662.31 from the previous day to ¥69,373.40, extending its sharp decline from the morning opening. The TOPIX also extended its sharp decline, falling 62.02 points to 4,092.09. Profit-taking selling led the Tokyo market following the decline in US equities. The Nikkei fell to ¥69,195.47, down ¥840.24, at 9:41 a.m., and was also affected by developments in other Asian markets.
Trading volume on the Tokyo Stock Exchange Prime Market was 971.95 million shares, with trading value of ¥3.510 trillion. There were 1,360 decliners, 170 advancers and 22 unchanged issues. Of the 33 sectors, 31 declined and 2 rose, marking a broad-based downturn.
The most notable declines were in oil and coal stocks such as Idemitsu Kosan and ENEOS, nonferrous metals stocks such as Furukawa Electric and Fujikura, machinery stocks SMC and Mitsubishi Heavy Industries, and bank stocks Mitsubishi UFJ and Mizuho. By contrast, shipping stocks NYK Line and Kawasaki Kisen, and services stocks En-Japan and Recruit Holdings, were relatively firm. Kubota, Bookoff Holdings, Komatsu, Yasuda Electric and CCI Group also declined, while SANKYO TATEYAMA, TechMatrix, Trend Micro, Digital Arts and Segue Group posted gains.
The information was distributed by Wealth Advisor. This article is based on the company’s coverage of market trends.