The Nikkei Average fell sharply in the morning session, trading at 64,473.16 yen, down 1,742 yen. Selling spread across a broad range of stocks as investors reacted negatively to higher oil prices and rising interest rates globally.
In the morning session on the Tokyo stock market, the Nikkei Average stood at 64,473.16 yen, down 1,742.18 yen from the previous day, as the market remained weak amid attention to the Bank of Japan's monetary policy and interest-rate trends. The TOPIX stood at 4,090.28 points, while morning trading value on the Tokyo Stock Exchange Prime Market exceeded approximately ¥4 trillion.
In addition to AI and semiconductor-related stocks, which have a high impact on the indices, declines were pronounced among economically sensitive stocks. The Nikkei Average at one point fell by nearly 2,000 yen.
Crude oil prices rose following the resumption of fighting between the United States and Iran. U.S. WTI crude oil futures traded in the $90-per-barrel range. Bank of Japan Governor Ueda Kazuo (植田和男) also disclosed that he had met with the U.S. Treasury secretary locally on 30 August, but provided no details.
All 33 industry sectors declined among stocks listed on the Tokyo Stock Exchange Prime Market. The tally was 86 advancers, 1,449 decliners and 20 unchanged issues. The biggest decliners included nonferrous metals, glass and stone products, and transportation equipment.