The Nikkei average fell back in the morning session, following weakness in US stocks, and ended the session down ¥1,121.71 at ¥68,098.54. AI-related stocks remained firm and supported the market as some semiconductor stocks declined.
The Nikkei average fell back to ¥68,098.54 in the morning session of the Tokyo stock market, down ¥1,121.71 from the previous day. Selling emerged as the market followed the decline in US stocks and investors took profits after the previous day's consecutive gains, while some AI-related stocks remained firm and supported the index.
The Nikkei opened down approximately 0.54% from the previous day and remained range-bound before selling intensified toward the end of the session. Declines in semiconductor-related stocks weighed on the market, while the TOPIX briefly turned positive before slipping modestly again.
Trading value on the TSE Prime Market was approximately ¥5.339885 trillion. There were 822 advancers, 682 decliners and 52 unchanged issues. Fifteen sectors, including marine transportation, mining, and oil and coal products, rose, while 18 sectors, including electric appliances, nonferrous metals, and metal products, fell.
From a technical perspective, the Nikkei remained above its 25-day moving average, prompting some to say this provided reassurance. Others noted that the market remained in a phase of assessing the macroeconomic environment as the earnings announcement season drew to a close.