The morning Nikkei average continued to decline, followed by a cautious stock market after the US employment statistics, and then showed a mild decline after the first round of selling.

September 9, 2024, 12:07 PM GMT+9 (excerpt)

In the morning session of the Tokyo stock market, the Nikkei average continued to decline to 35,613.32 yen, down 778.15 yen from the previous trading day. The market sentiment was negative towards the US stock market decline and the strong yen following the release of US employment statistics. While dropping below the key level of 36,000 yen and extending the decline to over 1100 yen at one point, the dollar/yen rate rebounded towards yen weakness during the trading hours, causing the Nikkei average to stabilize after a round of selling.
The Nikkei average opened 585 yen lower, then expanded its decline to 35,247.87 yen, down 1143 yen at one point. In the US market, the high-tech-heavy Nasdaq Composite and the Philadelphia Semiconductor Index (SOX) declined, leading to a decrease in indices due to selling pressure on domestic semiconductor-related stocks and high-tech stocks such as Tokyo Electron Ltd. Unsponsored ADR (8035.T).