Tokyo stocks remained stuck near their lows, with investors increasingly holding back from chasing new purchases ahead of the US employment report. With few catalysts ahead of the holiday, reports indicated that a wait-and-see stance was spreading.
The Nikkei remained stuck near its lows as of 13:53, with investors apparently holding back from building new positions amid a lack of domestic catalysts and the pre-holiday atmosphere. The US employment report is also due, and no new factor affecting the broader market has emerged.
At the morning close, the Nikkei had fallen back ¥630.00 from the previous day to ¥68,326.72. The reversal of gains through the previous day and higher crude oil prices weighed on the market, while TOPIX was down 42.72 points at 4,089.26. Declining stocks outnumbered advancers by a wide margin, with trading volume at approximately 1.1 billion shares and trading value at approximately ¥4 trillion. AI-related stocks were among the top negative contributors, while they continued to account for a large share of trading value.
At the open, the Nikkei began the morning session down ¥643.26 from the previous day at ¥68,313.46, with profit-taking selling prevailing across a broad range of stocks.