The Nikkei Average fell sharply for a 3rd straight day, closing at ¥64,325.64, down ¥1,889.70 from the previous day, for a 2.85% decline. Rising long-term interest rates, against the backdrop of developments in the United States, fueled caution and resulted in a broad-based market sell-off.
At the close of the Tokyo market, the Nikkei Average stood at ¥64,325.64, down ¥1,889.70 from the previous day. Trading value was approximately ¥8.0344 trillion, while trading volume was estimated at approximately 2.41905 billion shares. The Nikkei Average opened sharply lower and continued to lose ground before closing. The index fell for a 3rd consecutive day, with nearly 92% of all listed issues declining and only a handful of gainers.
Against the backdrop of the reaction in U.S. equity markets and rising crude oil prices, higher long-term interest rates also affected the domestic market. The 10-year Japanese government bond yield rose to approximately 3.015% today. This cooled sentiment across the market, and the Nikkei Average at one point fell by nearly ¥2,000.
Among individual stocks, major semiconductor stocks including Advantest, Tokyo Electron and Disco traded weakly, while electronic component stocks such as Fujikura, Taiyo Yuden and Murata Manufacturing also came under pressure. By contrast, Ito En, Infomart and Sumitomo Pharma showed relative firmness and strength. The performance of the stocks with the largest positive contributions to the Nikkei Average and those with the largest negative contributions effectively drove the market-wide decline.
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