Tokyo stocks were soft in mid-morning trading on the 2nd. The Nikkei fell sharply against a backdrop of higher crude oil prices and reports on the US and Middle East situation, while automobile stocks fell across the board.
As of 10:05 a.m., the Nikkei Stock Average's decline had expanded to nearly ¥800 immediately after trading began, and it remained in negative territory. Crude oil prices were rising again against a backdrop including reports that the United States would send an additional aircraft carrier to the Middle East, while the yen also moved higher. Automobile manufacturers fell across the board, with vehicle manufacturers including Toyota coming under selling pressure. Some market participants said the US employment report due over the weekend and uncertainty over the Middle East situation were weighing on the market.
SoftBank Group, Tokyo Electron and TDK, among other AI-related stocks, ranked among the Nikkei's top negative contributors, while Advantest and Fujikura were among the top positive contributors. AI-related stocks continued to lead the market, with such stocks also accounting for the top positions by trading value.
At the open, the Nikkei in the morning session began down ¥643.26 at ¥68,313.46 from the previous day. Some observers believe profit-taking selling has led across a broad range of sectors.