The Tokyo stock market fell sharply, with the Nikkei 225 ending ¥1,259 lower than the previous day at ¥64,011.34. Higher crude oil prices and rising U.S. interest rates weighed on the market, sending selling across the market, particularly in AI-related stocks.
The Tokyo market fell sharply, with the Nikkei 225 ending ¥1,259.61 lower than the previous day at ¥64,011.34. Rising crude oil futures and expectations of higher U.S. interest rates weakened investor sentiment, sending selling across the market, particularly in AI-related stocks. The TOPIX fell 26.28 points to 4,028.30, with 63% of stocks declining. Trading volume was 2.37251 billion shares, while trading value was ¥8.7129 trillion.
In the Tokyo foreign exchange market, the dollar rose to the low ¥154 range against the yen. As of 5 p.m., it stood at ¥154.20–¥154.23, up 80 sen from the previous day. The euro fell against the yen and was little changed against the dollar.
Bond futures fell sharply for a second consecutive session, with the benchmark long-term government bond futures contract ending at ¥125.14. The yield on the newly issued 10-year Japanese government bond, the benchmark for long-term interest rates, rose 0.07 percentage point to 2.980%.
Tokyo crude oil futures rose for a fifth consecutive session, with the most-active Dubai crude contract ending at a settlement price of ¥81,210, its highest level in three months. Gains were supported during the day by higher crude oil prices in the United States and Europe and the yen's decline, with the increase temporarily exceeding ¥4,500, but the rise was capped by movements in NY crude oil futures.
Among comments by officials and economic data, figures presented included a 7.6% increase in corporate goods prices in August and an improvement in business sentiment among large companies in the July–September quarter. News on the Bank of Japan's policy meeting and consumption tax cuts also appeared among the related headlines.