[Nikkei Stock Average and TOPIX (Table)]
Nikkei Average: 37,994.95, down 1159.90 from the previous day. Topix: 2722.80, down 70.32. In the afternoon, Nikkei Average started at 37,994.95 yen, down from the morning close (38,165.19 yen), with the decline expanding. During lunchtime, Nikkei 225 futures were in a range of 37,860 yen to 38,090 yen. The USD/JPY has been trading at around 152.30-40 yen per dollar since around 9:00 a.m., with the yen appreciating and the dollar weakening by about 1.40 yen. In Asia, the Shanghai Composite Index has been trading in negative territory and is down about 0.4%, while the Hang Seng Index in Hong Kong started to fall and has fallen sharply by about 1.5%.
In the sector, electric appliances, insurance, and machinery are among the top decliners, while fisheries and forestry, air transportation, and land transportation are among the top gainers. In the top trading value of the Tokyo Stock Exchange Prime Market, Renesas <6723>, Kokusai <6525>, Lotte <6323>, Kawasaki Heavy Industries <7012>, Hitachi <6501>, SoftBank Group <9984>, Recruit Holdings <6098>, Mitsubishi Heavy Industries <7011>, Advantest <6857>, and IHI <7013> are down. On the other hand, Kobayashi Pharmaceutical <4967>, Nitori Holdings <9843>, OLC <4661>, and KDDI Corporation <9433> are up.
Summary of the start of the afternoon session
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The Tokyo market in the afternoon started off with some selling compared to the morning close. The yen appreciation and the dollar weakening compared to the morning hours are said to be holding back buyers in the Tokyo stock market. On the other hand, as the Nikkei Average has fallen more than 2,100 yen for the sixth consecutive day since yesterday, some expect an oversold condition in the short term, and some point out that it is likely to attract buying on the dips.
In the sector, electric appliances, insurance, and machinery are among the top decliners, while fisheries and forestry, air transportation, and land transportation are among the top gainers. In the top trading value of the Tokyo Stock Exchange Prime Market, Renesas <6723>, Kokusai <6525>, Lotte <6323>, Kawasaki Heavy Industries <7012>, Hitachi <6501>, SoftBank Group <9984>, Recruit Holdings <6098>, Mitsubishi Heavy Industries <7011>, Advantest <6857>, and IHI <7013> are down. On the other hand, Kobayashi Pharmaceutical <4967>, Nitori Holdings <9843>, OLC <4661>, and KDDI Corporation <9433> are up.