The Nikkei Average extended its decline after the open, falling ¥541 as of 9:05 a.m. Selling prevailed amid weakness in US stocks and pressure from AI- and semiconductor-related stocks.
The Nikkei Average fell after the opening of Tokyo trading today, down ¥541 as of 9:05 a.m. US stocks were mixed in the previous session, but movements in major US stock indexes affected sentiment in the Japanese market.
In the US market, the Dow Average extended its gains, while the Nasdaq Composite and the SOX Index fell. This reportedly weighed on AI-related and semiconductor-related stocks, becoming a downside factor for Japanese equities.
Although the Nikkei Average had been rebounding in the ¥65,000 range for the past three days, selling prevailed at the open, with some also pointing to the market's firm downside.
With NVIDIA's earnings due on the 26th and remarks by the Federal Reserve chair at the Jackson Hole meeting scheduled for the 28th, market participants are said to be waiting to assess these developments.
Stable crude oil futures in overseas markets and subdued long-term US interest rates provided some reassurance and were also seen as factors limiting the widening of the Nikkei Average's decline.