At the morning close on 2 November, the Nikkei 225 was down ¥195 from the previous weekend at ¥63,095.11, while the TOPIX fell 33.46 points to 3,931.61, extending its decline. The Nikkei 225 hit a low in the morning, but its recovery was sluggish.
At the morning close on 2 November, the Nikkei 225 was trading ¥195 below the previous weekend's level and hit an intraday low of ¥577.20 at one point. Selling initially prevailed against the backdrop of declines in US stocks, while there was some movement aimed at capturing a short-term rebound into the afternoon, but the overall recovery was limited.
Trading volume on the TSE Prime Market was 1,021.81 million shares, with trading value at ¥3.799 trillion. The number of advancing issues was low, while declining issues accounted for about 70% of all issues. By sector, 24 of the 33 sectors declined. Warehousing and harbor transportation, precision instruments, nonferrous metals and banks were among the main drags, while glass and stone products and electric power and gas stocks were relatively firm or higher.
As a market factor, the yen weakened from early-morning levels, with the dollar trading in the ¥157.90 range. Among individual stocks, Marubun, Strike G, Tokyo Electron and Panasonic HD were among those attracting attention, while weakness in rubber products and information and communications stocks weighed on the market as a whole. Overall, marine transportation and services stocks and some financial stocks were soft, reflecting the sluggish recovery, while electric power and gas stocks remained firm.
Among other related developments, glass and stone products stocks such as NGK and Tokushu Toa, along with electric power and gas stocks such as Kansai Electric and Tokyo Gas, remained higher, while developments in semiconductor-related stocks also warranted attention. Overall, with the impact of lower US stocks continuing, the Nikkei 225 remained on a downward trend.