The Nikkei 225 temporarily fell more than ¥500 following losses in U.S. stocks and opened lower for a second straight session at the start of morning trading on the 8th. In the Tokyo market, selling by overseas investors led trading, pushing the Nikkei 225 down into the ¥69,500 range.
The Nikkei 225 opened lower for a second straight session in morning trading in Tokyo on the 8th, falling to around ¥500 below the previous day's level. Losses in U.S. stocks weighed on the market, and selling by overseas investors in stock index futures and major stocks pushed the Nikkei 225 lower. The TOPIX is also extending its decline. Developments in the U.S. market overnight are expected to continue affecting trading. The Nikkei 225 at times traded in the lower half of the ¥69,500 range.
All major U.S. stock indexes fell on the 7th, while long-term U.S. interest rates temporarily rose to a level not seen in 24 years. Selling spread amid uncertainty over the economic outlook and concerns over relative overvaluation, prompting weakness across the market. Developments in the U.S. market the following day could also affect trading in Tokyo. Selling was observed mainly in AI- and semiconductor-related stocks.
By stock in the Tokyo market, TDK and Fujikura declined. Resource-related stocks such as INPEX (INPEX) and Sumitomo Metal Mining (Sumitomo Metal Mining) also traded lower at times. Meanwhile, Fast Retailing (Fast Retailing) and Recruit rose, while Kioxia Holdings (Kioxia Holdings) also reached a higher price.