As of the close on the 29th, the number of advancing stocks among the constituents of the Nikkei Average was 74, the number of declining stocks was 146, and the number of unchanged stocks was 5.

The Nikkei average fell for the third consecutive day. It closed the morning session at 38,220.34 yen, down 151.42 yen (-0.39%) from the previous day, with an estimated volume of 500 million shares traded.

The U.S. stock market declined on the 28th. The Dow Jones Industrial Average closed at 41,091.42, down 159.08 points (-0.39%), the Nasdaq at 17,556.03, down 198.79 points (-1.12%), and the S&P500 at 5,592.18, down 33.62 points (-0.60%). With no major economic indicators released, the markets were mixed after opening. Profit-taking intensified from near all-time highs on the Dow, along with selling due to concerns of rising long-term interest rates on the Nasdaq, and pre-earnings announcement selling on semiconductor manufacturer Nvidia, leading to a day-long sell-off. The market remained bearish even towards the close of trading.

NVIDIA's earnings for the May-July 2024 period, announced in early morning Tokyo time on the 29th, exceeded market expectations in terms of performance and revenue outlook. However, in after-hours trading, there was a significant negative reaction with a temporary 8% drop from the previous day's closing price.

Influenced by the weak movement in NVIDIA's stock, the Tokyo market started with a preference for selling in semiconductor stocks. Although the Nikkei average briefly dropped below 38,000, semiconductor stocks like Tokyo Electron <8035> and Advantest <6857> gradually reduced their decline. The Nikkei average recovered to above 38,000 by the end of the morning trading session. Trading volume in the prime market remained quiet at 1.6 trillion yen.

Among the Nikkei average constituent stocks, Nidec <6594> became more popular for selling after Super Micro Computer, its collaborative partner, announced a delay in submitting the annual report for the June 2024 period. Additionally, ZOZO <3092>, Sumitomo Pharma <4506>, Screen HD <7735>, SoftBank Group <9984>, and Credit Saison <8253> showed uninspiring performances.

News of policy-related stock divestment stimulated buying in insurance stocks like SOMPO Holdings <8630>, T&D Holdings <8795>, and Tokio Marine <8766>. Others like Daiichi Sankyo <4568>, Itochu <8001>, Taiyo Yuden <6976>, TOPPAN Holdings <7911>, and Meiji Holdings <2269> saw an increase in value.

By industry sector, securities and commodity futures trading, pulp and paper, nonferrous metals, service industries, and land transportation declined. Conversely, insurance, marine transportation, wholesale trade, pharmaceuticals, and electric and gas industries rose.

The top contributor to the decline was Softbank Group ＜9984＞, which pushed the Nikkei average down by about 37 yen with one stock. The second was Tokyo Electron ＜8035＞, followed by Fast Retailing ＜9983＞, Recruit Holdings ＜6098＞, Advantest ＜6857＞, Nitori Holdings ＜9843＞, Nidec ＜6594＞, and others.

On the other hand, the top contributor to the rise was Daiichi Sankyo ＜4568＞, which pushed the Nikkei average up by about 12 yen with one stock. The second was KDDI ＜9433＞, followed by Fanuc ＜6954＞, Itochu ＜8001＞, Tokio Marine Holdings ＜8766＞, Kyocera ＜6971＞, Konami Holdings ＜9766＞, and others.

*As of 11:30.

Nikkei average stock price 38220.34(-151.42)

Number of stocks that rose 74 (Contributing +83.76)

Number of stocks that fell 146 (Contributing -235.18)

Number of unchanged stocks 5

○ Top advancing stocks

Code, Stock Name, Latest Price, Day Change, Contribution

<4568> Daiichi Sankyo 6108 128 12.55

<9433> KDDI 4944 58 11.38

<6954> Fanuc 4248 40 6.54

<8001> Itochu Corporation 7474 157 5.13

<8766> Tokyo Marine Holdings 5495 100 4.90

<6971> Kyocera Corporation 1768 13 3.27

<9766> Konami Group 12950 85 2.78

<4503> Astellas Pharma 1827 12 1.96

<6976> Taiyo Yuden 3487 58 1.90

<4578> Otsuka Holdings 8696 57 1.86

<8630> SOMPO 3420 86 1.69

<7951> Yamaha 3479 51 1.67

<8031> Mitsui & Co. 3046 24 1.57

<6981> Murata Manufacturing 2894 19 1.49

<4507> Shionogi & Co. 6734 44 1.44

<6841> Yokogawa Electric　　　　　　　　4099　　 36　　 1.18

<9009> Keisei Electric Railway　　　　　4590　　 71　　 1.16

<6503> Mitsubishi Electric　　　　　　2350　　 32　　 1.05

<5332> TOTO　　　　　　　　　　　　5030　　 64　　 1.05

<7912> Dai Nippon Printing　　　　　　5095　　 62　　 1.01

Top decreasing stocks

Code, Stock Name, Latest Price, Day Change, Contribution

<9984> SoftBank Group　　　　　　　　8152　　 -193　　 -37.86

<8035> Tokyo Electron 25900 -290 -28.44

<9983> First Retail 46010 -190 -18.63

<6098> Recruit HD 8775 -124 -12.16

<6857> Advantec 6348 -33 -8.63

<9843> Nitori HD 22015 -415 -6.78

<6594> Nidec 5841 -244 -6.38

<3092> Zozo 4578 -178 -5.82

<6146> Disco 41360 -890 -5.82

<6367> Daikin Industries 18375 -175 -5.72

<9613> NTT DataG 2168 -33.5 -5.48

<6758> SonyG 13935 -160 -5.23

<6920> Laser Tech 28345 -390 -5.10

<3659> Nexon 2857 -56 -3.66

<7735> SCREEN 10835 -250 -3.27

<4543> Terumo 2752 -11.5 -3.01

<7203> Toyota Motor 2729 -17.5 -2.86

Yaskawa Electric Corporation (6506) 4807 -86 -2.81

Trend Micro Incorporated (4704) 8551 -85 -2.78

Shiseido Company,Limited Sponsored ADR (4911) 3258 -85 -2.78