At the 2 November open, the Nikkei Stock Average stood at 62972.02, down ¥318.09 from the previous day, with declines in leading stocks such as Advantest standing out. The reaction to the US market and caution over AI-related stocks were factors.
Japan’s market saw the Nikkei Average fall sharply for a second straight session on 2 November, opening at 62972.02, down ¥318.09 from the previous day. In the previous day’s US market, the Dow fell sharply and the Nasdaq also declined substantially, while selling spread mainly across semiconductor and other defensive stocks. Caution over artificial intelligence-related initial public offerings and lower oil prices also weighed on the market, according to reports. The market remained weak throughout the day, widening its losses toward the close.
In the TSE Prime Market, among the stocks with the highest trading value, Advantest, Lasertec, Fujikura, Mitsubishi UFJ Financial Group, Recruit Holdings, Sumitomo Mitsui Financial Group and SoftBank Group declined. Tokyo Electron, Panasonic Holdings and Oriental Land, meanwhile, rose. By sector, banks, marine transportation and services were among the leading decliners.
Movements in stocks likely to affect the Nikkei Average included a period of gains for Advantest, but the prevailing view was that weakness in major technology stocks weighed on the market overall. The analysis reported on the day’s opening conditions also indicated that movements in the US SOX Index had an impact.