The Nikkei Average fell sharply, trading below ¥68,000 during the morning session. Short-term selling prevailed against a backdrop of declining U.S. stocks and rising long-term interest rates.
The Nikkei Average ended the morning session sharply lower at ¥68,098.54, down ¥1,121.71. Estimated trading volume was approximately 1.09154 billion shares. U.S. stocks fell the previous day, while rising long-term interest rates intensified risk-off pressure.
Following the move in U.S. stocks, the Nikkei Average extended its decline from the opening on the 18th, with selling concentrated in high-priced shares. The index continued to test lower levels after the open, falling more than ¥1,100 by the morning close.
Among individual stocks, SoftBank Group, Olympus, Takeda Pharmaceutical, Mitsubishi Corp., Mitsui, Daiichi Sankyo, Trend Micro and Honda were among those that rose. Advantest, Tokyo Electron, Kioxia Holdings, Fast Retailing, Murata Manufacturing, TDK, Taiyo Yuden, FANUC, Ibiden, Fujikura, Lasertec, Recruit Holdings, Disco, Kyocera and SCREEN were among those that fell.
By sector, marine transportation, mining, and oil and coal products rose, while electrical equipment, nonferrous metals and metal products declined. The afternoon session is expected to see range-bound trading near the lows, with funds likely to flow into mining and marine transportation stocks on higher crude oil prices, while defensive stocks are expected to provide support.
Across the market, attention is focused on movements around ¥68,000 as investors weigh the reaction to the recent five-day winning streak and short-term profit-taking.