On the 23rd, the Nikkei Average fell below ¥62,000 in a second straight decline, with selling prevailing against the backdrop of sharp falls in the US Nasdaq Composite and SOX. Developments in overseas markets provided limited buying incentives for the Tokyo market.
On the 23rd, the Nikkei Average opened at ¥66,667.05, down ¥240.79 from the previous day, and subsequently traded below ¥62,000 for the first time in 3 months. Price movements toward the close were within the range of preliminary figures available at the time of reporting.
In the US market, the Nasdaq Composite and SOX fell sharply again, weighing on the market as technology stocks were sold. Some attributed the decline in Meta's share price to the company's disclosure that substantial funding is required for AI investment. AI-related and semiconductor-related stocks also saw notable selling in the Tokyo market, while some said real estate and housing stocks attracted buying against the backdrop of lower interest rates.
In the foreign exchange market, as of 9:00 a.m., the dollar was in the low ¥156 range and the euro in the mid-¥175 range.
The yen-denominated settlement price for Nikkei Average futures was trading at ¥62,680, down ¥520 from the previous day.
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