The Nikkei 225 Stock Average fell 226.81 yen to 62,486.84 at the May 11 morning close, extending its decline from the prior session. Estimated trading volume on the Prime Market reached 1.46 billion shares, with an estimated turnover of 5.384 trillion yen. Advancing issues outnumbered decliners 822 to 681, with 68 stocks finishing unchanged.

In morning Tokyo trade, bullish sentiment prevailed across a wide range of issues following a rally in U.S. chip-related shares last Friday. However, the benchmark later surrendered its gains as short-term traders locked in profits. Market participants largely stayed on the sidelines ahead of the U.S.-China summit and a visit by U.S. Treasury Secretary Bessent, seeking to await the outcomes of these events. Despite the headline decline, selective buying appetite remained robust, particularly in small and mid-cap shares. Overall turnover swelled to over 5.3 trillion yen at the midday break.

Among individual stocks, KIOXIA HOLDINGS CORPORATION <285A> led the market in turnover, rising sharply against the overall soft tone. JX ADVANCED METALS CORPORATION <5016> and SONY GROUP CORPORATION <6758> gained, while MITSUI MINING & SMELTING COMPANY, LIMITED <5706> showed notable strength. SUN-WA TECHNOS CORPORATION <8137> remained locked at its daily limit. Conversely, SOFTBANK GROUP CORP. <9984> was weak, and NINTENDO CO., LTD. <7974> trended lower. Chip-making equipment names like ADVANTEST CORPORATION <6857> and DISCO CORPORATION <6146> faced selling pressure, as did FAST RETAILING CO., LTD. <9983>. DIGITAL ARTS INC. <2326> touched its daily limit low, while JAPAN MEDICAL DYNAMIC MARKETING, INC. <7600> and ADVANCE CREATE CO.,LTD. <8798> also recorded significant losses.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.