[Nikkei Stock Average and TOPIX (Table)]

Nikkei average; 38,237.12; -177.31

TOPIX; 2,697.11; -12.92

Summary of the start of the afternoon session

The afternoon Nikkei average started at a level close to the previous day's session, with a decrease of ¥177.31 from the previous close at ¥38,237.12. During lunchtime, the Nikkei 225 futures traded in a range of ¥38,230 to ¥38,320 with a tight range. The dollar-yen rate has been relatively strong since around 9 a.m., with the dollar trading at ¥154.80-90. In the Asian market, the Shanghai Composite Index started lower but is now up about 0.2% from the day's lows, while the Hang Seng Index in Hong Kong is moving around the previous closing level.

The afternoon Nikkei average started at a level close to the previous close. The reassuring movement of Dow Jones futures in after-hours trading is providing some comfort in the Tokyo market. On the other hand, with high anticipation for the earnings reports of the notable U.S. semiconductor company Nvidia for the period of August to October, which is scheduled to be announced early tomorrow Japan time, there are some who are holding back on aggressive buying.

In the sector, insurance, mining, and air transportation are among the top decliners, while retail trade, electric and gas industries, and textiles & apparels are among the top gainers in terms of rate.

In the top trading value on the Tokyo Stock Exchange Prime Market, Tokio Marine Holdings <8766>, MS&AD Insurance Group <8725>, SHIFT <3697>, Bannamahd <7832>, Daiichi Sankyo <4568>, Disco Corporation <6146>, Honda Motor Co <7267>, Daikin Industries <6367>, Chugai Pharmaceutical <4519>, and Shin-Etsu Chemical <4063> are declining. On the other hand, Kadokawa Corporation <9468>, Tokyo Gas <9531>, Sompo Holdings <8630>, Seven & i Holdings <3382>, Mitsui E&S Holdings <7003>, Nippon Steel Corporation <5631>, Sony Group Corp <6758>, Mercari <4385>, Asics <7936>, and DeNA <2432> are showing gains.