The Nikkei Average fell sharply by ¥1,130.51 from the previous day to close at ¥65,269.33 on the Tokyo Stock Exchange, with stocks sliding in the afternoon as concerns over the risk of a Middle East conflict grew. Trading value remained high, and more than half of all listed stocks declined.
Tokyo stocks traded in an unstable environment on the 8th amid a lack of clear market catalysts. The Nikkei Average opened lower, then briefly recovered into positive territory, but selling pressure intensified again toward the end of the session, leaving the index sharply lower at the close. The Nikkei Average ended at ¥65,269.33, down ¥1,130.51 from the previous trading day. Estimated trading volume was 21.1 billion shares, and estimated trading value was ¥8.4774 trillion.
Among individual stocks, some recorded by far the highest trading value, but crude oil prices rose and the yen strengthened in the afternoon against a backdrop of reports of attacks on energy facilities in the Middle East, sending many stocks lower, particularly export-related names. Decliners far outnumbered advancers across the market, and risk-off sentiment intensified.
In terms of individual stock movements, Kioxia Holdings fell sharply in the afternoon, while Advantest and Tokyo Electron were also sold. SoftBank Group, however, at one point surged on heavy trading. Selling was also seen in low-priced, theme-driven stocks such as Seiko Group and Seiko’s watch-related stocks, and the market overall remained on a downward trend.
In summary, with few stock-specific catalysts, investors became more risk averse amid concerns over the situation in the Middle East, prompting the afternoon decline. The Nikkei Average extended its losses again toward the end of the session and finished sharply lower.