The Nikkei 225 fell for the first time in 3 weeks this week, closing at ¥66,016. Caution over rising interest rates worldwide weighed on the market.
In Tokyo's stock market this week, the Nikkei 225 fell ¥2,697 from the previous weekend to ¥66,016, declining for the first time in 3 weeks. TOPIX also fell for the first time in 3 weeks, and caution spread across the market. Among major stocks, buying returned at times, particularly in semiconductor-related names, although declines also continued.
Caution over rising US interest rates intensified, and risk aversion temporarily strengthened following a US announcement concerning Treasury buybacks. However, there were also periods when US long-term interest rates declined and buying returned. Overall, market volatility remained high.
On the 21st, renewed expectations of higher interest rates weighed on the market, while declines in consumer-related stocks triggered by Walmart's earnings announcement spread across the market. In Japan, stocks including Ryohin Keikaku, Dai-ichi Life and Idemitsu Kosan were affected. Among domestic-demand stocks, some sectors, including real estate, also showed signs of relatively stabilizing at times.
Next week, Nvidia's US earnings and the Jackson Hole meeting will be the main focus, and a wait-and-see mood is expected to continue as the market's direction remains difficult to discern. In Japan, the July unemployment rate and active job openings-to-applicants ratio are scheduled for release, while a series of US economic indicators are also due overseas.