The Nikkei Average narrowed its decline in the afternoon, but selling pressure remained evident in AI- and semiconductor-related stocks, weighing on the broader market.
The Nikkei Average opened lower for a second straight session this morning, but narrowed its decline in the afternoon. The afternoon session opened down ¥177.92 from the previous day at ¥66,134.01, recovering approximately ¥80 from the morning close.
In morning trading, the Nikkei Average opened ¥426.46 below the previous close at ¥65,885.47, following declines in U.S. technology stocks. Selling in AI- and semiconductor-related stocks pushed the index lower, but bargain hunting emerged, narrowing the decline to ¥66,050.33 by the morning close.
Across the market, advancers accounted for 53% of stocks in the Prime Market and decliners for 44%, with each group comprising nearly half of the market. The TOPIX rose 21.56 points to 4,177.85 and remained in positive territory. Trading volume was 1.10282 billion shares, while trading value was ¥3.5795 trillion.
Although caution over elevated levels in AI- and semiconductor-related stocks remains, some market participants pointed to the market's overall resilience. Interest-rate trends and the direction of U.S. technology stocks are likely to influence the market's direction going forward.