The Nikkei Stock Average ended Monday's morning session down 566.20 yen at 60,843.09, extending losses from the previous session. Trading volume on the Prime Market totaled approximately 1.31 billion shares, with a turnover of around 4.17 trillion yen. Decliners heavily outnumbered advancers 1,153 to 390, with 21 issues finishing unchanged.

The Tokyo market was highly volatile, with the benchmark index shedding more than 1,000 yen at one point. A broad sell-off across European and U.S. equities last Friday, triggered by surging interest rates, spilled over into Tokyo. Rising domestic yields further soured investor sentiment as the benchmark 10-year Japanese government bond (JGB) yield climbed to 2.8%. AI and semiconductor-related shares led the downturn. Bucking the trend, Kioxia Holdings <285A> remained awash with buy orders at its daily limit-up ceiling following its strong earnings report last Friday. Declining issues accounted for roughly 74% of the Prime Market.

Among individual stocks, with Kioxia Holdings overwhelmed by unexecuted buy orders, Fujikura Ltd. <5803> topped the turnover rankings despite trading weak. SoftBank Group Corp. <9984> faced heavy selling pressure, while chip-related DISCO CORPORATION <6146> and IBIDEN CO.,LTD. <4062> both slumped. Heavyweight FAST RETAILING CO., LTD. <9983> traded lower, and NITTO BOSEKI CO.,LTD. <3110> extended its slide, while Carlit Co., Ltd. <4275> and grems,Inc. <3150> plunged. Conversely, Furukawa Electric Co., Ltd. <5801> advanced as the second most-traded stock, and Mitsui Kinzoku Company, Limited <5706> attracted buy orders. Mitsubishi UFJ Financial Group, Inc. <8306> gained ground, and Recruit Holdings Co., Ltd. <6098> surged. LIFEDRINK COMPANY, INC. <2585>, GMO Payment Gateway, Inc. <3769>, and INNOTECH CORPORATION <9880> all locked at their daily limit-up ceilings.

Source: MINKABU PRESS

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