The Tokyo market remained rangebound. AI-related and semiconductor stocks moved lower, and the Nikkei average fell from the previous day's close at the open, but subsequently narrowed its losses and at times moved into positive territory.
The Tokyo stock market remained rangebound, with the Nikkei Stock Average down ¥37.41 from the previous trading day at the open, at ¥65,978.95, as trading lacked clear direction toward the close. AI-related and semiconductor shares were sold following the decline in the SOX Index in the U.S. market.
Market participants said that rising interest rates made it difficult to pursue further gains, and indicated that they were watching the expansion of AI demand and changes in the market environment. Some also said that movements in AI-related and semiconductor stocks could weigh on price movements across the broader market.
Although the market fell temporarily immediately after the open, it subsequently narrowed its losses and at times moved into positive territory. Ultimately, the overall market remained rangebound, with many market participants saying that its future direction would depend on interest-rate trends and movements in the U.S. market.