April 5: On the Tokyo stock market, the Nikkei Stock Average closed at 38,992.08 yen, down 781.06 yen from the previous business day. Photo taken at the Tokyo Stock Exchange in October 2020 (2024 Reuters/Kim Kyung-Hoon)
TOKYO (Reuters) – On the Tokyo stock market, the Nikkei Stock Average closed sharply at 38,992.08 yen, down 781.06 yen from the previous business day. The risk-off mood has strengthened, as investors are fed up with the fall in US stocks and the rise in tensions in the Middle East following hawkish comments from a senior Federal Reserve official. With the weekend before the release of US employment statistics, there was a sense of selling, and the price fell below the 39,000 yen milestone for the first time in about three weeks.
The Nikkei Stock Average continued its decline after falling lower, falling 998 yen to 38,774.24 yen, a drop of nearly 1,000 yen. Amid the global risk-off sentiment, prices continued to rise heavily throughout the day, and continued to struggle at the lows. The strong yen against the dollar/yen weighed on investor sentiment.
There were concerns that the escalating situation in the Middle East would prompt oil prices to rise, leading to a chain reaction of risks such as a return to US inflation and another rise in interest rates. In the Middle East, an attack on the vicinity of the Iranian embassy in Syria, believed to be carried out by the Israeli army, has increased fears of a retaliatory attack by Iran.
On the other hand, it was reported that Kashkari, the president of the Federal Reserve Bank of Minneapolis, said the day before, “If the inflation rate continues to remain flat, there is a question of whether interest rates need to be cut. .”Markets expecting an early interest rate cut are in a negative mood.
In the immediate future, attention turns to US employment statistics to be released this evening, Japan time. In the market, an opinion was expressed by Masayuki Otani, head of the research and information department of Securities Japan, “If we can safely manage the employment statistics and the consumer price index (CPI) next week, things will calm down a bit. ”
TOPIX closed 1.08% lower at 2,702.62 points. The TSE Main Market Index was 1,391.08 points, down 1.08% from the previous business day. The trading value in the main market was 4,510,869 million yen. Of the 33 industries on the Tokyo Stock Exchange, prices increased in 8 industries, including textiles, land transportation, and oil and coal products, while prices fell in 25 industries, including precision equipment, securities and electrical equipment.
Semiconductor-related stocks such as Tokyo Electron (8035.T), opened a new tab mostly weak, pushing the index down. Keyence (6861.T), opens a new tab, SMC (6273.T), opens a new tab weakly. On the other hand, Eisai (4523.T), opens a new tab and TOTO (5332.T), opens a new tab solidly. In the emerging stock market, the TSE 250 Growth Market Index fell 0.74% to 691.04 points, falling for the fifth day in a row.
In terms of the number of rises and falls in the TSE prime market, 566 stocks rose (34%), 1026 stocks fell (62%), and 60 stocks remained unchanged (3%).
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