The Nikkei Average extended its sharp decline in the morning session, closing at ¥69,373.40, down ¥662.31 from the previous day. Broad-based declines spread amid persistently high global interest rates and profit-taking, with 88% of stocks falling and trading volume at approximately 970 million shares.
The Nikkei Average fell sharply in the morning session, closing at ¥69,373.40. The TOPIX fell 62.02 points to 4,092.09, with declines spreading across the market. Trading volume was 971.95 million shares and trading value reached ¥3.51 trillion.
Declines were also pronounced by sector. Oil and coal products, nonferrous metals, machinery and banks recorded the largest drops, while marine transportation and services rose. Standard TOP20 and growth stocks both continued to trend lower.
At 10:00 a.m., the Nikkei Average briefly fell by more than ¥800, as profit-taking selling pushed a broad range of sectors lower. Some said instability in the Middle East had raised concerns about the risk of disruptions to crude oil supplies, weighing on the market.
The Nikkei Average opened at ¥69,840.64, down ¥195.07 from the previous day, and traded below ¥70,000.