[Nikkei Average Stock Price・TOPIX (Table)]

Nikkei Average; 38979.95; -56.90

TOPIX; 2711.11; -16.15

[Afternoon Market Overview]

In the afternoon, the Nikkei Average opened at 38979.95 yen, which is a decrease of 56.90 yen compared to the previous day, slightly widening the decline from the previous close (38990.56 yen). During lunch time, the Nikkei 225 Futures fluctuated in the range of 38980 yen to 39030 yen. The dollar to yen exchange rate is approximately 1 dollar = 157.00-10 yen, which is nearly the same level as around 9 AM. In Asia, the Shanghai Composite Index had some upward movement in the morning but has since softened, dropping about 0.4%. The Hong Kong market is closed.

In the afternoon Tokyo market, selling slightly led the opening compared to the previous close. Many market participants, particularly overseas investors, are still on Christmas holiday, which seems to limit aggressive buying. Meanwhile, although the Nikkei Average fell after a morning high, the sturdy lower levels seem to provide some reassurance.

In terms of sector performance, the Electricity & Gas, Banking, and Insurance industries had the highest drop rates, while Transportation Equipment, Iron & Steel, and Mining sectors saw increases.

In terms of trading volume in the Tokyo Main Board, Rakuten <4755>, Mitsui E&S <7003>, Disco <6146>, Kansai Electric <9503>, Tokyo Electric Power HD <9501>, Kasumigaseki Capital <3498>, DeNA <2432>, LaserTech <6920>, Daiichi Sankyo <4568>, and NINTENDO CO LTD <7974> experienced declines. Conversely, Nomura Micro <6254>, Nissan <7201>, Sega Sammy HD <6460>, Kioxia HD <285A>, SHIFT <3697>, Kawasaki Heavy <7012>, Sanrio <8136>, Toyota <7203>, Mitsubishi Motors <7211>, and Nippon Steel <5401> saw increases.