Japan Market Daily | Kabutaro & Friends

On October 7, the Nikkei 225 fell for the first time in three sessions, closing down 648.27 yen (-0.92%) at 70,035.71. The TOPIX also slipped 29.45 points (-0.70%) to 4,154.11. In reaction to the rapid gains through the previous day, profit-taking led from the open, and losses widened centered on high-priced semiconductor stocks. Persistently high domestic long-term interest rates and uncertainty over the Middle East also weighed on the market. By contribution, Tokyo Electron dragged the index down by about 154 yen and Advantest by about 121 yen. By sector, electric power and gas, rubber products, and information and communications rose, while banks, nonferrous metals, and securities and commodity futures fell. Turnover on the TSE Prime Market was 7.6713 trillion yen. In Tokyo forex trading, the dollar rose to 158.50 yen as remarks by Bank of Japan board member Sato dampened expectations of aggressive rate hikes.