In the morning session of the Tokyo stock market, the Nikkei Average extended its decline, following the previous day's losses. The impact of lower U.S. stocks was broad, with selling prevailing from the opening, although some semiconductor-related stocks saw a return of buying from the middle of the session onward.
In the morning session, the Nikkei Average fell ¥662.31, or 0.95%, from the previous day to ¥69,373.40. While selling triggered by lower U.S. stocks spread broadly, buying returned to AI- and semiconductor-related stocks during the session on the back of strong earnings from South Korea's Samsung Electronics, narrowing the decline.
The TOPIX on the TSE Prime Market ended the morning session at 4,092.09 points, down 1.49%, with trading value of ¥3.487418 trillion. By sector, 2 sectors, marine transportation and services, rose, while the other 31 sectors declined.
Among individual stocks, SoftBank Group, Mitsubishi UFJ Financial Group and Mitsui & Co. were weak, while Kioxia Holdings was bought. Advantest, which had opened lower, also recovered from the middle of the session onward.
Commenting on the market, Sakaki Takao (坂貴雄), strategist at Okachi Securities, pointed to repeated swings and said the market was entering a phase in which buying was emerging in anticipation of a stock-market rise after the U.S. midterm elections.