Tokyo stocks fall for 4th straight session, Nikkei down 111 points after early gains fade

Tokyo trading was choppy on the 3rd, as the Nikkei average slipped into negative territory after an early rise, then drifted before renewed afternoon selling pushed the index lower.

The Nikkei average closed down 111.16 points from the previous session at 64,214.48, marking a fourth straight decline. Trading volume on the Prime Market came to about 2.19 billion shares, with turnover of about 7.577 trillion yen. Advancers led decliners 805 to 685, with 65 stocks unchanged.

Tokyo shares opened higher on the 3rd, supported by overnight gains on Wall Street, as traders eyed a potential technical rebound following the previous session's sharp losses. However, gains were capped by concerns over rising crude oil prices amid renewed U.S.-Iran tensions. As South Korea's KOSPI softened sharply, the Nikkei slid from about mid-afternoon, at one point widening its loss to over 500 points and briefly falling below 64,000. The index then rapidly pared losses but failed to fully recover. Of the 33 TSE industry sectors, 20 advanced. Stock-picking based on individual catalysts remained active. Trading house shares rose, spurred by reports of an interview with Berkshire Hathaway's CEO. The TOPIX closed in positive territory. Advancers on the Prime Market accounted for roughly half of all listed stocks, while turnover stayed below 10 trillion yen.

Among individual stocks, FAST RETAILING CO., LTD. <9983> declined. ADVANTEST CORPORATION <6857>, IBIDEN CO., LTD. <4062>, Fujikura Ltd. <5803>, TDK Corporation <6762>, and DISCO CORPORATION <6146> also moved lower. INPEX CORPORATION <1605>, YOKOGAWA ELECTRIC CORPORATION <6841>, NH Foods Ltd. <2282>, Mitsui Kinzoku Company, Limited <5706>, and Isetan Mitsukoshi Holdings Ltd. <3099> fell. NITTO BOSEKI CO., LTD. <3110>, Meiko Electronics Co., Ltd. <6787>, and Citizen Watch Co., Ltd. <7762> posted sharp losses.

On the upside, SoftBank Group Corp. <9984> traded firmly. Lasertec Corporation <6920> moved higher, while Tokyo Electron Limited <8035> and Kioxia Holdings Corporation <285A> held steady. Mitsubishi Corporation <8058>, ITOCHU Corporation <8001>, MITSUI & CO., LTD. <8031>, SUMITOMO CORPORATION <8053>, and Marubeni Corporation <8002> gained. Nitori Holdings Co., Ltd. <9843> surged sharply.

Source: MINKABU PRESS

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