Sony Financial Group's share price fell in Tokyo trading on the 31st. Reports that the Financial Services Agency was considering an on-site inspection of Sony Life Insurance drew market attention, and selling led through the end of trading.
The Nikkei Stock Average fell for the first time in two sessions in Tokyo trading on the 31st, closing at ¥66,311.93, down ¥93.63 from the previous weekend. U.S. long-term interest rates rose at the end of the previous week amid expectations of further U.S. rate hikes, and selling led the Japanese market amid a decline in U.S. semiconductor stocks. Selling at one point exceeded ¥1,500 in the morning, but the decline subsequently narrowed, with the market also showing moves to offset the morning's losses.
Against this backdrop, reports that the Financial Services Agency was considering an on-site inspection of Sony Life Insurance heightened market interest and were said to have affected trading in Sony Financial Group. Market participants are focusing on developments ahead and the release of additional information.
Overall, reports said that trends in U.S. interest rates and the U.S. stock market affected sentiment in Japan and influenced the performance of individual stocks. Attention is focused on financial stocks, including Sony Financial Group, as well as future reports related to the Financial Services Agency.