The Nikkei Average stood at ¥65,630.07 at the start of the afternoon session, down ¥386.29, as Advantest and Fujikura, among others, declined. The market is expected to move depending on how trading develops after the open.
The Nikkei Average began afternoon trading at ¥65,630.07, down ¥386.29 from the previous day, extending its decline significantly from the morning close of ¥65,968.71. Nikkei 225 futures continued to trend weakly, as they had during the morning session, and selling prevailed at the open. With many Asian stocks in negative territory, stock indexes remained weak throughout the day without breaking out of their ranges.
Among stocks with the highest trading value, Kioxia Holdings, Fujikura, Advantest, SoftBank Group, Ibiden and Furukawa Electric declined, while Taiyo Yuden, Tokyo Electron, JX Advanced Metals, Sumitomo Metal Mining and Nintendo rose. By sector, declines were particularly noticeable among mining, nonferrous metals, and electric power and gas stocks, while the number of advancing stocks was limited.
The Nikkei Average went on to update its morning low, and selling was also seen prevailing at times at the start of the afternoon session. Market participants continue to focus on the Nikkei Average's direction as well as price movements in individual stocks.