Tokyo stocks traded near their lows at the afternoon open, with the Nikkei Average starting about ¥650 lower than the previous day. The market fell broadly, led by AI-related stocks, with declines in SoftBank Group, Tokyo Electron and TDK standing out.
The Nikkei Average at the afternoon open started at ¥68,306.14, down ¥650.58 from the previous day, with some AI-related stocks falling sharply. The Nikkei Average traded near its lows, while selling also spread broadly beyond AI-related stocks at the start of the period.
At the morning close, the Nikkei Average had fallen back to ¥68,326.72, down ¥630.00 from the previous day. Crude oil prices rose amid concerns about the outlook for the situation in the Middle East, while trading volume reached 1.11559 billion shares and trading value reached ¥4.0987 trillion. TOPIX fell sharply, with 85% of stocks declining and 13% advancing.
The market opened at ¥68,313.46, down ¥643 from the previous level, with profit-taking leading the decline. AI-related stocks had a major impact. SoftBank Group, Tokyo Electron and TDK were among the leading negative contributors, while Advantest and Fujikura were positive contributors.
AI-related stocks continued to lead the market on the day, and the possibility that the afternoon session would remain near its lows was being considered. It was also reported that the Nikkei Average's opening conditions could change depending on developments toward the close.