The Nikkei Stock Average fell more than ¥2,500 at one point after the US September CPI exceeded market expectations. Expectations for a rate hike intensified, while declines in semiconductor stocks also weighed on the market.
In today's Tokyo stock market, the Nikkei Stock Average fell more than ¥2,500 at one point from the previous day's close. After the US September consumer price index rose more than expected, concern temporarily intensified that the likelihood of a rate hike in the near future could increase. This strengthened investors' risk-averse stance and prompted broad-based selling.
Selling was particularly strong in semiconductor-related stocks, and declines in individual stocks were reported to have caused the broader market to weaken. The market's decline narrowed at times as the session progressed, but volatility may return depending on developments in the New York market.
Going forward, attention is expected to remain focused on US inflation trends, the outlook for monetary policy and the performance of export-related stocks, including semiconductor stocks. Investors are expected to remain in a phase of assessing short-term market drivers and the possibility that interest-rate trends may either ease or persist.