[Nikkei Stock Average and TOPIX (Table)]

Nikkei average; 38070.64; -281.70

TOPIX; 2689.64; -8.65

Summary of the start of the afternoon session

In the afternoon session, the Nikkei average fell by 281.70 yen compared to the previous day, starting at 38070.64 yen, slightly narrowing the decline from the previous close (38033.22 yen). During lunch, the Nikkei 225 futures were strong in a range of 37950 yen to 38110 yen. The dollar-yen exchange rate is 1 dollar = 154.90-155.00 yen, showing a yen appreciation and dollar depreciation level since around 9 AM. In Asia, while the Shanghai Composite Index is down about 0.1% with fluctuating movements around the previous day's closing price, the Hong Kong Hang Seng Index is mostly trading at a slight decline of about 0.1%.

In the afternoon session, the Tokyo market started with a slight advance in buying compared to the previous closing. The Nikkei average in the morning session had a firm bottoming around 38000 yen, providing a sense of security. On the other hand, the Dow futures, which were firm in the morning, seem to have turned somewhat soft, acting as a drag on Tokyo market stock prices.

In the sector, mining, precision instruments, and retail trade had the highest rates of decline, while nonferrous metals, banks, and rubber products had the highest rates of increase.

In terms of trading value on the Tokyo main board, KADOKAWA <9468>, IHI <7013>, Socionext <6526>, Mitsubishi Heavy Industries <7011>, Sakura <3778>, OLC <4661>, Kawasaki Heavy Industries <7012>, Fast Retailing <9983>, Advantest <6857>, and INPEX <1605> are in decline. On the other hand, Tokyo Gas <9531>, Furukawa Electric <5801>, Sumitomo Electric <5802>, Fujikura <5803>, Mitsui Sumitomo Trust <8309>, Monex Group <8698>, DeNA <2432>, SHIFT <3697>, Mizuho <8411>, and rakuten <4755> are on the rise.