The Nikkei Stock Average traded near its lows, with some semiconductor-related stocks falling sharply and dragging down the index. SoftBank Group ranked among the top contributors to the gain from the morning session. A summary of market movements during the afternoon session on 18 August.
The Nikkei Stock Average continued to trade near its lows, with its decline widening during the afternoon session. The morning-session close was ¥68,098.54, down ¥1,121.71 from the previous day, and some semiconductor-related stocks continued to be sold after the afternoon opening, weighing on the index.
Although more than half of the stocks on the Prime Market were advancing, sharp declines in some semiconductor-related stocks pushed the overall market lower. At one point around 2 p.m., the Nikkei was close to falling more than ¥1,000 from the previous day.
Market participants said that, with next week's Jackson Hole meeting and Nvidia's earnings announcement approaching, numerous factors were making investment decisions difficult. SoftBank Group ranked among the top contributors to the gain from the morning session, while some AI-related stocks held up relatively well.
In afternoon trading, TOPIX was sharply lower as of the morning close, while trading volume was active at more than 1 billion shares. Selling in semiconductor-related stocks continued at times to accelerate the decline across the broader market.