The Nikkei average opened the afternoon session near its lows, with selling continuing broadly, centered on AI-related and semiconductor stocks. In addition to the sharp decline through the morning session, the market remained lower as of 10:00.
Tokyo stocks opened the afternoon session sharply lower, with selling in AI-related stocks spreading, particularly among high-priced shares. Market participants said they expected range-bound trading in negative territory to continue.
At the morning close, the Nikkei average stood at ¥65,724.25, down ¥1,736.48 from the previous day, as a broad range of stocks declined against a backdrop of persistently high global interest rates and rising oil prices. Trading volume was 1.17506 billion shares and turnover was approximately ¥5 trillion, with declines widespread across the market.
At 10:00, the Nikkei had fallen to ¥65,326.76, down ¥2,133.97 from the previous day. Some market participants said the decline in South Korean stocks was also weighing on AI-related stocks, while the levels of the 25-day and 75-day moving averages drew attention as potential points of support.
The Nikkei opened sharply lower at ¥66,812.27, down ¥648.46 from the previous day. In the afternoon session, high interest rates in the US market also spread to technology stocks, with selling in AI-related and semiconductor stocks continuing.