In Tokyo trading on the 8th, the Nikkei Average's morning close was ¥69,373.40, down ¥662.31 from the previous day, taking it below the psychological ¥70,000 level. The market opened at ¥69,840.64, with selling leading the decline.
The Nikkei Average fell sharply in Tokyo trading on the 8th, closing the morning session at ¥69,373.40, down ¥662.31 from the previous day. It ended the morning below the psychological ¥70,000 level after opening at ¥69,840.64.
Selling spread amid concerns about inflation driven by declines in the U.S. Dow and Nasdaq and higher oil prices, as well as caution over rising long-term interest rates. The Nikkei Average extended its decline after the opening. Toward the end of the morning session, there were periods when falling crude oil futures and the rise in long-term interest rates paused, but the downward trend continued.
Among individual stocks, SoftBank Group pushed the index down by approximately 175 points, while Komatsu, TDK, Tokyo Electron and Fast Retailing also weighed on it. Advantest was the top positive contributor among advancing stocks, while Kioxia Holdings and Recruit Holdings also held firm.
Advancing stocks in the morning session included Advantest, Kioxia Holdings and Recruit Holdings, while SoftBank Group, Komatsu and TDK were among the leading decliners. In the preliminary balance of payments report for August, the current account was in surplus, while foreign investors were net buyers in transactions in foreign securities.
Although uncertainty over the situation in the Middle East remains, oil prices and U.S. long-term interest rates are expected to remain key areas of focus. The market is expected to trade in a narrow range near its lows in the afternoon, while buying in stocks with strong earnings may help support the index.