The Nikkei 225 extended its decline after the open, down about ¥440 as of 9:00 a.m. With investor sentiment weighed down by last week's decline in US equities, rising crude oil prices and moves in US long-term interest rates, caution also spread to AI and semiconductor stocks.
In today's Tokyo market, the Nikkei 225 extended its decline after the open. Selling prevailed across the market against the backdrop of a sharp decline in the Dow Jones Industrial Average, and the Nikkei 225 continued to fall after the open.
In the US market, the Dow Jones Industrial Average fell for the first time in 4 days, while the Nasdaq Composite posted only a slight decline and the SOX Index rose 0.44%. In overseas markets, rising crude oil futures and firm US long-term interest rates made investors more cautious.
The announcement by South Korea's SK hynix that it had abandoned plans to pursue an IPO of its US subsidiary also added to market instability. The Nikkei 225 was said to be forming a pattern in which the 200-day moving average in the ¥61,400 range was acting as downside support.
The interim earnings announcement season for domestic companies with March year-ends is scheduled to get into full swing this week, and there is a view that expectations for stocks with strong earnings and performance will support share prices. Selling prevailed at the open, but expectations of downside support for the market have been highlighted.