The Nikkei fell below the ¥70,000 level and declined for the first time in 3 sessions, down more than ¥600 in the morning session. Profit-taking selling dominated, suggesting a phase in which short-term attempts to push prices higher were losing momentum.
The Nikkei fell by more than ¥600 in the morning session, and TOPIX also moved into negative territory. The indexes were reported to have fallen, with downward pressure on the stock market temporarily intensifying.
Terms such as profit-taking selling and decline were prominent in the news, suggesting that it was difficult to push prices higher in the short term. At elevated levels, selling tends to lead even when favorable news emerges, according to reports.
Investors are likely to become more inclined to wait and see ahead of earnings announcements and the release of economic indicators, with earnings-related news and new information expected to draw attention in the market outlook.