The Nikkei Average fell further in the morning session, closing the morning at ¥62,214.66, down ¥478.50. Selling spread across semiconductor-related stocks against a backdrop of a sharp decline in U.S. markets, higher crude oil prices and rising long-term interest rates, while trading company stocks attracted strong buying, resulting in divergent market moves.
The Nikkei Average fell further during the morning session, with the morning-session close at ¥62,214.66. Estimated volume was 942.81 million shares.
In U.S. markets, the Dow Average closed down 652.82 points and the Nasdaq down 53.52 points, with supply concerns stemming from tensions in the Middle East, rising crude oil prices and concerns that inflation will remain elevated weighing on stocks.
Against this backdrop, the Nikkei Average opened down ¥243.20 on the 26th. Selling dominated, particularly in high-priced semiconductor-related stocks, while trading and resource-related stocks attracted buying at times, and the TOPIX rose.
In the afternoon session, the Nikkei Average is expected to remain under pressure on the upside as investors monitor developments in semiconductor-related stocks. Across the market, some stocks, including Advantest and Tokyo Electron, are expected to continue having a significant impact on the indices, while a cautious stance may spread ahead of upcoming events such as the FOMC and the Bank of Japan meeting.