Buying led at the open following gains in U.S. stocks, but the Nikkei 225 struggled to extend its gains into the afternoon and softened again toward the close. The report covers movements in major stocks and trends by sector.
Japanese stocks opened higher following gains in U.S. stocks, but the Nikkei 225 struggled to extend its gains against a backdrop of expectations for further interest-rate increases and higher crude oil prices. Semiconductor and AI-related stocks rose in response to the previous day's moves in U.S. markets, and the index at times moved into positive territory during the day.
The Nikkei 225 ultimately fell for a fourth straight session on the 3rd, closing at ¥64,214.48. The index again struggled to gain ground in the afternoon and at times fell to around ¥64,140.04. The broader market continued to seesaw.
By stock, SoftBank Group, Nitori Holdings, Mitsubishi Corporation and Tokyo Electron rose, while Fast Retailing, Advantest, Ibiden and Fujikura fell. By sector, wholesale, electric power and gas, marine transportation, and oil and coal products rose, while mining, nonferrous metals and real estate declined.