Tokyo stocks (midday close) down 630 yen on profit-taking

The Nikkei Stock Average ended the morning session down 630.00 yen from the previous session at 68,326.72 yen. Prime Market morning trading volume was about 1.115 billion shares, with turnover estimated at 4.0987 trillion yen. Declining issues totaled 1,326 against 203 advances, with 23 unchanged.

The Nikkei reversed course to trade lower. Although the Dow Jones Industrial Average and the Nasdaq Composite posted modest gains in U.S. equity markets the previous day, profit-taking dominated Tokyo trading after the index surged more than 3,400 yen over the two sessions on Sept. 30 and Oct. 1. The index briefly fell more than 800 yen to the 68,100 level, with over 80% of Prime Market stocks declining. Investors are closely watching the U.S. September employment report due tonight. The yen traded near 157.90 yen against the dollar, slightly stronger compared to the previous evening.

Among individual stocks, SoftBank Group Corp. <9984>, TAIYO YUDEN CO., LTD. <6976>, Tokyo Electron Limited <8035>, Mitsubishi UFJ Financial Group, Inc. <8306>, and TOYOTA MOTOR CORPORATION <7203> fell. Conversely, Kioxia Holdings Corporation <285A>, ADVANTEST CORPORATION <6857>, Lasertec corporation <6920>, Fujikura Ltd. <5803>, Furukawa Electric Co., Ltd. <5801>, and Mitsui Kinzoku Company, Limited <5706> gained ground.

Source: MINKABU PRESS

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