Tokyo stocks opened sharply lower at the afternoon session opening, with declines in AI-related and semiconductor stocks weighing on the Nikkei and sending it significantly lower.
At the afternoon session opening, the Nikkei Stock Average started down ¥1,909.91 from the previous day at ¥63,361.04. Reflecting the trend in U.S. markets, AI-related and semiconductor stocks stood out for their declines, weighing on the broader market.
The morning session closed down ¥1,801.56 from the previous day at ¥63,469.39. Expectations of higher U.S. interest rates against a backdrop of rising crude oil prices also weighed on the market. The TOPIX was down 44.31 points at 4,010.27.
63% of stocks declined, while 33% advanced. Trading volume was 1.33246 billion shares, with turnover of ¥4.9912 trillion. By sector, nonferrous metals, electrical equipment and machinery declined, while mining, marine transportation and transportation equipment advanced.
The Standard TOP20 and Growth-related stocks both continued to decline, indicating that the market-wide weakness persisted.