Semiconductor stocks fell in the U.S. market, while turmoil in the South Korean market also spilled over. Tokyo stocks were trading approximately ¥488 below the previous weekend's close, with selling spreading to semiconductor-related issues.
Tokyo stocks fell for a second straight session at the start of the week, with the Nikkei 225 closing ¥488.27 below the previous weekend at ¥65,528.09. The Tokyo Stock Price Index (TOPIX) ended at 4,073.29, up 6.00 from the previous day, while trading volume was 1.88234 billion shares.
In addition to the decline in semiconductor stocks in the U.S. market, stock prices also fell in South Korea, where semiconductor stocks account for a large share of the market. Selling therefore spread in Tokyo, centered on semiconductor-related issues.
The move is believed to reflect stronger risk aversion across individual issues, against a backdrop of views that weakness in the semiconductor market could affect supply and demand.
The impact of currency-market movements and details of individual stock movements are outside the scope of this article.