The Tokyo market was pressured by broad selling of semiconductor stocks, and the Nikkei average posted its sharpest decline in four sessions. It closed down ¥1,253 from the previous day at ¥67,777.
The Nikkei average fell for the fourth straight day in the Tokyo market, opening the morning session down ¥466 at ¥68,564. It temporarily fell as low as ¥67,058 in mid-morning trading, but bargain hunting in the afternoon narrowed the decline.
Among individual stocks, Kioxia Holdings fell sharply, down 13.3% at ¥15,180. Concerns about intensifying competition following reports of new product development by China's major memory maker CXMT were cited as a factor.
Yaskawa Electric, meanwhile, rose 1.2% to ¥4,840, rebounding for the first time in three trading sessions. The stock was supported after the company raised its current fiscal year's net profit forecast, announced on the 9th, above the market consensus. Omron extended its gains, up 1.6% at ¥6,498, as an acquisition announcement by a group company prompted buying.
Sega Sammy Holdings rose 2.9% to ¥3,333, while Trial Holdings fell 4.9% to ¥3,520. Higher price targets from foreign securities firms and the impact of the full-year outlook for sales promotion-related businesses were viewed as factors. The Nikkei average remained weak throughout the day, although the decline narrowed toward the close.