At the opening of the afternoon session on the 8th, the Nikkei Average began at ¥69,522.76, down ¥512.95 from the previous day, as markets worldwide, including Asian stocks, fell broadly.
At the opening of the afternoon session, the Nikkei Average began at ¥69,522.76, down ¥512.95 from the previous day, as broad-based declines continued amid weak buying momentum worldwide. As of the morning close, the Nikkei Average was down ¥662.31 at ¥69,373.40, while the TOPIX was down 62.02 points at 4,092.09.
Approximately 88% of stocks declined, while only 11% advanced. Trading volume was 971.95 million shares and trading value was ¥3.51 trillion. By sector, oil and coal products, nonferrous metals, machinery and banks fell sharply, while marine transportation and services rose.
In intraday trading, the Nikkei Average briefly fell by more than ¥800 at 10:12 a.m., as profit-taking selling spread across a broad range of sectors, resulting in a market-wide decline. Some said persistently high interest rates were a concern against the backdrop of instability in the Middle East and its impact on crude oil supplies.
At the opening, the market had fallen further from the morning-session close. The morning session had opened at ¥69,840.64, down ¥195.07 from the previous day and below ¥70,000, as selling prevailed following lower U.S. stocks.