The Nikkei 225 Stock Average ended trading on the Tokyo Stock Exchange on the 23rd at ¥62,693.16, down ¥214.68 from the previous day. It was down more than ¥1,400 in morning trading but narrowed its losses by the close.
The Nikkei 225 Stock Average ended trading on the Tokyo Stock Exchange on the 23rd at ¥62,693.16, down ¥214.68 from the previous day, marking its second consecutive day of losses. Although the index fell sharply at one point in morning trading, it narrowed its losses into the afternoon.
Selling spread across stocks, led by AI-related and semiconductor-related issues, following declines in US semiconductor stocks. Bank stocks also fell as government bonds, considered a safe-haven asset, were bought and the yield on newly issued 10-year government bonds, a benchmark for long-term interest rates, declined.
Selling pressure spread across the market, with about 60% of stocks listed on the Tokyo Stock Exchange Prime Market falling. Some market participants said the market could rebound if corporate results remain solid ahead of next week's earnings announcements.
The Tokyo Stock Exchange Stock Price Index (TOPIX) fell 31.69 points to 3,965.81.