[Nikkei Average Stock Price・TOPIX (Table)]

Nikkei Average; 39,409.45; -439.69

TOPIX; 2,740.36; -32.67

[Afternoon Market Overview]

In the afternoon session, the Nikkei Average started at 39,409.45 yen, down 439.69 yen from the previous day, slightly narrowing its decline from the previous close (39,360.43 yen). During lunch time, the Nikkei 225 Futures hovered in the range of 39,360 yen to 39,440 yen. The dollar-yen exchange rate was 1 dollar = 152.90 to 153.00 yen, showing a depreciation of about 30 sen for the yen and an increase for the dollar since around 9 AM. In Asia, the Shanghai Composite Index began with a decline and remains soft with a drop of about 1.4%, while the Hong Kong Hang Seng Index is trending in the negative zone with a decrease of about 1.5%.

In the afternoon Tokyo market, buying slightly led the start compared to the previous close. With no particularly noticeable selling factors domestically, there seems to be a view that the Nikkei Average had declined too much in the previous session, which is encouraging buybacks. On the other hand, Dow Inc futures are slightly soft during Extended hours trading, and the decline of China Connect stocks in Hong Kong and Shanghai appears to weigh on the Tokyo market's stock prices.

In sectors, Machinery, Other Financing Business, and Services are among the top decliners, while Pulp & Paper, Marine Transportation, and Other Products are among the top gainers.

In trading volume leaders in the Tokyo Stock Exchange Main Board, IHI <7013>, Mitsubishi Heavy <7011>, Kawasaki Heavy <7012>, Recruit HD <6098>, Daiichi Sankyo <4568>, Tokyo Electron <8035>, Sony Group Corp <6758>, Screen HD <7735>, Kao <4452>, and Fast Retailing <9983> have decreased. On the other hand, Oji HD <3861>, Bandai Namco HD <7832>, Advantest <6857>, Socionext <6526>, Fujikura <5803>, DeNA <2432>, Seibu HD <9024>, Rakuten <4755>, NYK Line <9101>, and Sanrio <8136> have increased.