Tokyo stocks were weighed down by selling in AI- and semiconductor-related issues, putting pressure on the Nikkei average. At the morning close, the Nikkei average stood at ¥64,512.35 and the TOPIX at 4,031.85, with both indexes soft. Trading volume reached approximately 879.56 million shares, while trading value was approximately ¥3.0082 trillion.
The Nikkei Average at the start of the afternoon session opened approximately ¥161.21 below the previous day's level, with the decline widening to more than ¥500. Selling in AI and semiconductor-related stocks pushed down the broader market. 81% of issues declined, and the performance of the various groups remained unstable.
At the midday close, the Japanese stock market was range-bound near the Nikkei Average's morning closing level, with the index moving from the ¥64,433 range to the ¥64,512 range. The TOPIX was at 4,031.85, while trading volume was approximately 879.56 million shares and trading value approximately ¥3.0082 trillion. By sector, nonferrous metals, banks and marine transport declined, while steel and other sectors edged higher.
Some expect the nervous market conditions to continue ahead of earnings announcements by US companies, and have pointed to the possibility of continued weakness, particularly in AI-related stocks. Many market participants said they were maintaining a cautious stance ahead of the earnings announcements.