The Tokyo stock market on the 31st saw the Nikkei average test lower levels sharply in the morning session before temporarily rebounding into positive territory, but later came under renewed selling pressure.

The Nikkei Stock Average at the close fell 822.13 yen to 51,063.72, down sharply for the fourth consecutive session. Trading volume on the Prime Market was estimated at 2.642 billion shares, with trading value estimated at \8.3666 trillion. Advancing issues numbered 613, while declining issues totaled 906, with 56 stocks unchanged.

The Tokyo market today opened lower amid a strong risk-off mood, at one point falling more than 1,300 yen, but subsequently showed resilience and even briefly turned positive. While Middle East tensions remained unclear, media reports that U.S. President Trump stated he was "prepared to end the war with the Strait of Hormuz remaining closed" led to lower oil prices and a rise in U.S. stock index futures, which in turn triggered buying pressure in the Tokyo market. However, buying momentum did not persist, and trading ultimately finished near the lows in the afternoon session. Still, as evidenced by declining issues accounting for only 58% of the total, while large-cap stocks with high trading values were generally sold off, some small- and mid-cap stocks showed strength contrary to the broader indices. Trading value exceeded \8 trillion for the first time since the 19th.

Among individual stocks, Kioxia Holdings <285A>, which again today dominated trading value by a wide margin, continued to search for a bottom. Furukawa Electric Co., Ltd. <5801>, which ranked second in trading value, fell sharply. Fujikura Ltd. <5803> also posted notable declines. Semiconductor manufacturing equipment-related stocks including ADVANTEST CORPORATION <6857>, Lasertec corporation <6920>, and DISCO CORPORATION <6146> were also pressured by selling. Mitsubishi Heavy Industries,Ltd. <7011> declined, JX Advanced Metals Corporation <5016> was weak, and major trading houses including Mitsubishi Corporation <8058> fell. TAKI CHEMICAL CO.,LTD. <4025> plunged to its daily limit down, while Japan Display Inc. <6740> was also lower. eREX Co.,Ltd. <9517> saw profit-taking.

On the other hand, Shin-Etsu Chemical Co., Ltd. <4063> was firm, and Tokio Marine Holdings, Inc. <8766> also rose. Recruit Holdings Co.,Ltd. <6098> traded higher, and FUJITSU LIMITED <6702> was solid. DENSO CORPORATION <6902> attracted buying. Zojirushi Corporation <7965> surged, Texcend Photomask <429A> and Infomart Corporation <2492> jumped, and KADOKAWA CORPORATION <9468> also drew investor interest.

Source: MINKABU PRESS