The Nikkei Average fell as much as ¥1,600 from the previous day's level. While declines spread among AI- and semiconductor-related stocks, the broader market remained firm. The results of the Bank of Japan's monetary policy meeting are due to be announced around noon, with the market's subsequent reaction in focus.
The Nikkei Average fell as much as ¥1,600 from the previous day's level, as selling continued on concern over sharp declines in after-hours trading in Amazon.com and major semiconductor maker Intel in the US. Declines in AI- and semiconductor-related stocks pushed the index lower, affecting the broader performance of stocks on the TSE Prime Market.
Among individual stocks, Tokyo Electron fell more than 5%, Advantest 6857.T was expected to be down nearly 8%, and SoftBank Group also fell more than 6%. Ibiden, which announced its earnings the previous day, hit its daily price limit on a sense that the results had already been priced in.
In terms of the broader market, more than 60% of stocks rose, underscoring its resilience. Air transportation, marine transportation and other products declined, while nonferrous metals, electrical appliances, glass and ceramics and stone products advanced.
The results of the Bank of Japan's monetary policy meeting are due to be announced around noon, and the subsequent reaction in share prices is expected to be limited. The market is expected to look for clues about an additional rate hike at the Governor's press conference.