Tokyo stocks continued to narrow their losses in afternoon trading, with automakers firm on a pause in the yen's appreciation. The Nikkei average reduced its decline from both the morning close and the opening, while the TOPIX also recovered to near the previous close.
As of 1:53 p.m., the Nikkei average was holding up, with bank stocks bought on rising interest rates and automakers firm as the yen's appreciation paused. The TOPIX recovered to near the previous close, and the market as a whole narrowed its losses.
At the afternoon-session open, the Nikkei average fell sharply from the morning close, but losses narrowed as investors bought stocks at lower prices. At the morning close, the decline had narrowed, while individual stocks showed mixed movements.
At 10:15 a.m., the Nikkei average fell more than ¥800 from the previous day at one point, while some large-cap semiconductor-related stocks, including Tokyo Electron and Advantest, turned negative, weighing on investor sentiment. Declining issues accounted for a relatively high proportion of stocks across the Tokyo Stock Exchange.