Tokyo stock market closing bell=significantly down, temporarily dropping over 2000 yen with a rollback in Takamichi trade.

September 30, 2024, 3:34 PM GMT+9 (excerpt)

In the Tokyo stock market, the Nikkei average closed significantly down at 37,919.55 yen, down 191.01 yen from the previous trading day. In the stock market last week, there was a rise in stocks and a decline in the yen following Takamichi Sanae, the economic and security minister, winning the LDP leadership election, leading to a 'Takamichi trade.' However, with the emergence of Shigeru Ishiba as the new party leader, there was a rollback in sales. There were moments when the Nikkei average temporarily dropped over 2000 yen.
The Nikkei average started the day weak, down 711 yen from the previous trading day, then widened its losses, falling below the key level of 38,000 yen. Semiconductor stocks, leading stocks, automobile stocks, etc., which have a significant impact on the index, were sold off. The situation remains easily influenced by the movement of the dollar/yen, and as the dollar fell to the 141 yen range in the afternoon session, the Nikkei average also extended its decline. In the latter half of the afternoon session, it hit a low of 37,797.91 yen, down 2031 yen.