On April 3, the Nikkei Stock Average fell 387.06 yen from the previous business day to 39,451.85 yen on the Tokyo stock market. Photo taken at TSE in August 2015 (2024 Reuters/Yuya Shino)
TOKYO (Reuters) – On the Tokyo stock market, the Nikkei Stock Average fell 387.06 yen from the previous business day to 39,451.85 yen. Selling stocks and major tech stocks that contributed significantly to the index, fed up with the previous day’s drop in US stocks, pushed the index down. On the other hand, there were buybacks in some small and medium stocks, and the index fell towards the end of the market.
The Nikkei Stock Average started 335 yen lower, and at one point extended its decline 621 yen to 39,217.04 yen. The drop in Fast Retailing (9983.T), opens a new tab, whose monthly domestic Uniqlo sales are lacking, pushed the index down about 150 yen per stock.
The 25th moving average (39,775 yen, 24 sen = 3rd), which had been supporting the Nikkei average until the previous day, turned into a resistance line, preventing the highest price. The selloff was focused on large-cap stocks, and one domestic securities analyst said the market was seeing “selling pressure from foreign investors.”
On the other hand, in the main market, the number of rising stocks is greater than the number of falling stocks, and “it seems that the desire to search is still alive and well” (Atsushi Kitazawa , deputy general manager of the group investment information in the product division of Miki Securities). “I think the profit from selling at the beginning of the period has stopped for now,” said Mr Kitazawa. “We have seen some buybacks in some of the small and medium stocks that were sold. until the day before.”
The large-cap TOPIX 100 fell 0.41%, while the mid-400 fell 0.05% and the small-cap TOPIX 100 fell 0.11%, giving small and mid-cap stocks a relative advantage.
Although the impact of the earthquake that occurred off the coast of Taiwan on the morning of the 3rd on the Japanese stock market was limited, “we need to remain cautious as the supply of semiconductor-related parts is expected to be still in the future,” said a domestic strategist and strategist, and this was also noted.
TOPIX closed 0.29% lower at 2,706.51 points. The TSE Main Market Index was 1,393.06 points, down 0.29% from the previous business day. The trading value in the main market was 4,760,890 million yen. Of the 33 industries on the TSE, prices rose in 15, including mining, electricity and gas, and shipping, while prices fell in 18, including other products, precision equipment, and steel.
Individually, JR Tokai (9022.T), opens a new tab solid. Following the resignation of the prefectural governor of Shizuoka, who did not approve excavation work within the prefecture for the Linear Chuo Shinkansen, support was given to the progress of the plan. Itochu Corporation (8001.T), opens a new tab, which announced its shareholder return policy for this financial year, has surged to the back of the market. On the other hand, Advantest (6857.T), opens a new tab and SoftBank Group (9984.T), opens a new tab weakly.
In the emerging stock market, the Tokyo Stock Exchange’s Growth Market 250 Index fell 1.9% to 700.25 points, falling for the third day in a row.
In terms of the number of ups and downs in the main TSE market, 807 issues rose (48%), 791 issues fell (47%), and 54 issues remained unchanged (3%).
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