The Nikkei average moved sideways near its lows after some technology shares declined, with a drop in Arm, the U.K.-based semiconductor design giant owned by SoftBank Group, acting as a localized source of downward pressure. TOPIX at times remained firm.
The Nikkei average remained rangebound near its lows, with selling in some AI-related and semiconductor-related stocks weighing on the index. SoftBank Group was affected by a decline in its subsidiary Arm, falling more than 5% at one point. Market participants said the market as a whole remained firm, while noting that it was difficult to take positions ahead of this week's events.
In the afternoon, the Nikkei average fell below the previous business day's level, as some AI- and semiconductor-related stocks continued to be sold after the morning session. The Nikkei average opened sharply lower in the afternoon session and at times extended its decline.
TOPIX remained firm, trading 13.01 points higher at 4080.30. Stock performance was mixed, with 34% of stocks declining and 63% advancing. Trading volume was 920.43 million shares, and trading value was ¥3.6032 trillion, indicating active trading.
Market participants said that, while the market as a whole remained firm, declines in some AI- and semiconductor-related stocks were weighing on the index. The Nikkei average remained near its lows after the opening, moving around the level of the morning-session close and the morning-session midday break.
(End) Jiji Press report