Japanese stocks continued their morning-session losses in the afternoon, with SoftBank Group weighing on the index and selling concentrated in nonferrous metal stocks.
The Nikkei Average is expected to carry its morning decline into the afternoon, with buying and selling likely to remain mixed. During the morning session, SoftBank Group recorded a significant negative contribution and weighed on the index. Advantest and Fast Retailing provided support. The rise in the U.S. Nasdaq prompted buying in semiconductor-related stocks. Going forward, rising long-term U.S. yields and persistently high crude oil futures prices are expected to remain risk factors.
Selling had led across stocks in the Tokyo Stock Exchange Prime Market, and the moves of stocks with large contributions to the Nikkei Average, along with trading through Nikkei 225 futures, are expected to be the focus. The TOPIX was down 35.63 points at 4,031.85 at the morning close, falling alongside the Nikkei Average.