The Nikkei average declined for the fifth consecutive day, weighed down by a drop in US stocks after the employment statistics, with selling pressure followed by buying back.

September 9, 2024, 3:27 PM GMT+9 (excerpt).

At the Tokyo stock market, the Nikkei average closed at 36,215.75 yen, down 175.72 yen compared to the previous business day, marking the fifth consecutive decline. The Nikkei average temporarily dropped over 1,100 yen at one point due to the decline in US stocks following the employment statistics announcement, as well as the high yen exchange rate. However, with the temporary relief of the strong yen trend against the dollar, the Nikkei average gradually reduced its decline, and after the selling pressure subsided, buying back was observed.
The Nikkei average started weak, down 585 yen from the previous trading day, breaking below the milestone of 36,000 yen at the opening. It further expanded its decline and temporarily dropped to 35,247.87 yen, down 1,143 yen. Declines in semiconductor-related and automobile stocks stood out, weighing on the market. However, when the dollar, which was trading around the 142 yen level in the morning, rose to near 143 yen, the Nikkei average also narrowed its decline. It recovered to the 36,000 yen range in the afternoon session, leading to a consolidating trend.