Japan Market Daily | Kabutaro & Friends

On October 8, the Nikkei 225 extended its decline, closing at the day's low of 69,042.11, down 993.60 yen (-1.42%). The TOPIX also fell 62.65 points (-1.51%) to 4,091.46. In the previous U.S. session, higher crude oil prices heightened inflation concerns and U.S. long-term interest rates rose, weighing on the market. Short-term overheating after the rally since September 16 was also noted, and profit-taking increased. By contribution, SoftBank Group dragged the index down by about 218 yen, Tokyo Electron by about 157 yen, and TDK by about 90 yen, while Recruit Holdings lifted it by about 20 yen. By sector, marine transportation, services, and rubber products rose, while nonferrous metals, glass and ceramics products, and machinery fell. Turnover on the TSE Prime Market was 7.6133 trillion yen. In Tokyo forex trading, the dollar hovered around 158.20 yen.