The Nikkei Average fell for the third consecutive day, temporarily dropping by 680 yen due to the decline in US tech stocks and the strengthening of the yen.

September 5, 2024, 3:29 PM GMT+9 (excerpt)

The Nikkei Average in the Tokyo stock market fell by 390.52 yen to 36,657.09 yen, marking the third consecutive day of decline. The decline in US tech stocks and the strengthening of the yen weighed on the Nikkei Average, which temporarily dropped by over 680 yen. There were moments in the morning session when the Nikkei Average turned positive in response to comments by Bank of Japan's Sato Takahisa, but the buying momentum did not continue and selling pressure prevailed in the afternoon session.
The Nikkei Average started weak, falling by 511 yen compared to the previous trading day, and hit a low of 36,359.23 yen with a decline of 688 yen. Afterwards, the decline narrowed and it temporarily entered positive territory, recovering the key level of 37,000 yen. In the afternoon session, the market remained weak, but there were instances where the decline narrowed as the dollar/yen rose, indicating a focus on exchange rates. Some major stocks and semiconductor shares were sold off as part of the trading activity.