The Nikkei Average closed at ¥64,214.48 on 3 September in Tokyo, down ¥111.16 from the previous day. It was up more than ¥300 at one point, but inflation concerns capped gains. The TOPIX traded firmly.
The Nikkei Stock Average closed at ¥64,214.48 on 3 September in Tokyo, down ¥111.16 from the previous day. Buying led the market in the morning on the back of gains in US stocks, and the index was up more than ¥300 at one point, but gains were capped toward the close. Trading volume on the TSE Prime Market was 2.57888 billion shares, with trading value at ¥7.577009 trillion. Across all issues, 805 advancers were matched by 686 decliners.
A temporary decline in US long-term interest rates eased concerns over rising funding costs at one point, but uncertainty over the situation in the Middle East and inflation concerns stemming from higher crude oil prices weighed on investor sentiment and the Nikkei Average. The index at times moved above its morning high, but buying interest was thin around ¥64,500, and it also fell below ¥64,000 at times.
After the afternoon session began, the index at times opened above its effective morning high, but the rebound was sluggish, and the market remained heavy toward the close with the previous day's closing level in focus. The influence of technology stocks persisted, and some market participants said that if the rebound remains sluggish over the next week, the moving averages could turn downward.