In Tokyo trading at the start of the week, the Nikkei Average fell ¥407 from the previous week’s close to ¥64,916.70, as selling spread to related stocks against a backdrop of declines in U.S. technology shares. Selling subsided in the afternoon, narrowing the decline.
The Nikkei Stock Average ended trading down ¥407.59 from the previous Friday at ¥64,916.70 in Monday's Tokyo stock market session. Following the decline in U.S. technology stocks the previous Friday, sell orders prevailed, particularly in related shares, and the decline at one point exceeded ¥1,400.
The Tokyo Stock Price Index (TOPIX) rose 1.48 points to 4,067.48, while trading volume was 2.06192 billion shares.
In the U.S. market on the 16th, major technology stocks were sold on concerns about excessive investment in AI-related businesses. Related shares also came under pressure in Tokyo, weighing on the broader market. Persistently high U.S. crude oil futures prices amid rising tensions in the Middle East also dampened investor sentiment, while buybacks of undervalued shares in the afternoon narrowed the decline.