The Tokyo stock market on the 11th saw the Nikkei average decline for the second consecutive day as profit-taking emerged in some AI and semiconductor-related stocks. However, many value stocks attracted buying, and TOPIX rebounded.

The Nikkei average closed at 62,417.88 yen, down 295.77 yen from the previous trading day, marking a second consecutive decline. Estimated trading volume on the Prime Market was approximately 2,940.73 million shares, with an estimated trading value of approximately 10,435.4 billion yen. The number of advancing stocks was 870, while declining stocks totaled 650, and 53 stocks were unchanged.

In today's Tokyo market, the Nikkei average started sharply higher in early trading led by futures, rising over 600 yen at one point, but buying momentum failed to continue thereafter. In the U.S. stock market on the previous Friday, semiconductor-related stocks in particular showed notable gains, and it appeared this momentum might carry over. However, concerns over renewed increases in crude oil prices led to profit-taking dominating during trading hours. With U.S. Treasury Secretary Bessent's visit to Japan and the U.S.-China summit meeting in Beijing scheduled for this week, sentiment to wait and see the outcome of these events appeared to dampen buying appetite. Nevertheless, appetite for individual stock picking remained strong, with many small- and mid-cap stocks attracting buying. At the close, advancing stocks outnumbered declining stocks by more than 200. Total trading value also exceeded 10 trillion yen for the third consecutive trading day since last week.

Among individual stocks, Kioxia Holdings <285A> continued to push higher, recording an astonishing trading value in the 1,800 billion yen range. Fujikura Ltd. <5803>, JX Advanced Metals Corporation <5016> also rose. SONY GROUP CORPORATION <6758> surged, and Mitsui Kinzoku Company, Limited <5706> also attracted investor interest. JAPAN TOBACCO INC. <2914> was also higher. NIPPON THOMPSON CO.,LTD. <6480> hit the daily limit up and led gainers. SUN-WA TECHNOS CORPORATION <8137>, INTER ACTION Corporation <7725>, Future Innovation Group, Inc. <4392>, The Monogatari Corporation <3097>, and TOKYO OHKA KOGYO CO., LTD. <4186> all extended gains to their daily limit up. PENTA-OCEAN CONSTRUCTION CO.,LTD. <1893> also saw expanded trading volume and was bought heavily higher.

On the other hand, SoftBank Group Corp. <9984> was weak, and Nintendo Co., Ltd. <7974> also searched for lower levels. Some semiconductor manufacturing equipment-related stocks including ADVANTEST CORPORATION <6857>, Tokyo Electron Limited <8035>, and DISCO CORPORATION <6146> declined. KEYENCE CORPORATION <6861> and Nitto Boseki <3110> were lower, and Sumitomo Metal Mining Co., Ltd. <5713> was also pressured by selling. JMDC Inc. <4483> and Digital Arts Inc. <2326> were sold down to their daily limit down, while SHIMA SEIKI MFG., LTD. <6222>, Japan Medical Dynamic Marketing, INC. <7600>, and Advance Create Co.,Ltd. <8798> also saw significant declines.

Source: MINKABU PRESS

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