kabutan

Tokyo stocks open lower, weighed down by U.S. SOX decline

Thu May 28, 2026 9:04 am JST Market

The Tokyo stock market opened lower on May 28, with the benchmark Nikkei Stock Average kicking off trading at 64,770 yen, down 228 yen from the previous session.

On Wall Street, the three major stock indices advanced on May 27 to close at fresh record highs. Optimism over a potential de-escalation of U.S.-Iran tensions grew following reports of a draft peace memorandum, fueling expectations for the normalization of shipping through the Strait of Hormuz and boosting investor sentiment. However, high-flying semiconductor shares faced profit-taking, snapping a five-day winning streak for the Philadelphia Semiconductor Index (SOX). Consequently, Tokyo's heavyweight semiconductor sector is poised to face near-term headwinds, though the broader market will likely find support from the positive close across major U.S. benchmarks.

Source: MINKABU PRESS

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

Related Articles