In the domestic equity market on 28 September, stocks announcing expanded shareholder benefits and dividend increases were bought, while the Nikkei Stock Average moved against the previous day and came under selling pressure toward the afternoon session. Trading was active in individual stocks on the TSE Prime Market, and the Nikkei Stock Average ended the session at ¥65,877.62.
The Nikkei Stock Average initially rose on 28 September, at one point recovering to the ¥67,000 range for the first time in about 1.5 months, but profit-taking selling spread and pressure across the market intensified in the afternoon session. Concerns over relatively high valuations grew amid the impact of US events and interest-rate expectations, while institutional investors were also seen taking a wait-and-see stance. The Nikkei closed at ¥65,877.62, down ¥486.58 from the previous day.
Trading volume increased on the TSE Prime Market, while trading value declined. By sector, insurance, banks, electric power and gas, and services rose, while pharmaceuticals, pulp and paper, mining, chemicals, and electrical equipment fell. The top gainers among individual stocks were Orchestra Holdings, Tamura Corporation and Money Forward. The biggest decliners were Nidec, Tomen Devices and Nippon Chemi-Con.