[Nikkei Stock Average and TOPIX (Table)]

Nikkei average: 38,873.67, -261.12.

TOPIX: 2,755.30, -21.50.

Summary of the start of the afternoon session

The afternoon Nikkei average started with a slightly smaller decline from the morning closing (38,826.33 yen) at 38,873.67 yen, down 261.12 yen from the previous day. The Nikkei 225 futures during lunchtime were in a range of 38,800-38,910 yen. The dollar-yen is at around 157.10-20 yen, which is almost the same level as around 9:00 am. In the Asian market, while the Shanghai composite index fluctuated between the previous day's closing price, the Hang Seng index in Hong Kong has fallen about 1.2% and is in the negative territory.

In the afternoon Tokyo market, buying has been a little ahead compared to the morning closing. Although the morning Nikkei average has fallen, it seems to be comforting that it has had a solid downside performance. On the other hand, this week, with events on both domestic and international fronts, tonight, the U.S. May Consumer Price Index (CPI) will be released, and tomorrow morning Japanese time, the results of the Federal Open Market Committee (FOMC) meeting and Fed Chairman Powell's press conference are scheduled, and some investors are cautious about buying aggressively as they want to see how these events will play out.

In sectors, pulp and paper, marine transportation, and precision instruments are among the top decliners, while oil and coal products, mining, and metal products are among the top gainers.

In the top trading volume on the Tokyo Stock Exchange Prime Market, Daiichi Sankyo <4568>, Mitsubishi Estate <8802>, JR East <9020>, Recruit Holdings <6098>, First Retailing <9983>, Keyence <6861>, Asics <7936>, Hokkaido Electric Power <9509>, Kawasaki Kisen <9107>, and Nippon Yusen <9101> are down. Meanwhile, TDK <6762>, Lotte <6323>, Murata Manufacturing <6981>, ENEOS <5020>, Disco <6146>, SoftBank <9434>, Kokusai <6525>, Itochu <8001>, Laser Tech <6920>, and Advantest <6857> are up.