In the Tokyo stock market on 6 November, fashion and beauty stocks, mainly SVT Index constituents, plunged after surging the previous day. Major stocks fell broadly in the morning session, with Shiseido and others extending their declines.
Selling spread across fashion and beauty-related stocks after their sharp gains the previous day, and SVT Index constituents fell broadly in the morning session.
Shortly after trading began, yutori, Intermestic, MTG and Jade Group were down more than 7%. Among watch-related stocks, Citizen Watch fell more than 9%, Seiko Group more than 8% and Casio Computer more than 6%, with all 3 major companies posting substantial declines.
Shiseido, which had been the top gainer the previous day, also fell more than 3%. Profit-taking selling emerged in stocks that had surged the previous day, weakening buying momentum in the market. The SVT Index comprises 96 stocks.
The related stocks include many major department store and apparel companies, and selling pressure intensified across the industry in the morning session on 6 November.
This article is a flash report providing updates on the price movements of SVT Index constituents as they occur.