The Nikkei Average Index retraced 563 points or 1.1% in the morning session, while SoftBank and Kioxia continued to rise by 4%

Japanese stocks fell in the early market, influenced by profit-taking, with about 80% of stocks in the Tokyo Stock Exchange Prime market declining. The Nikkei average index opened down 498 points, with the initial drop narrowing to 393 points at 50,634 points before moving downward, at one point dropping 813 points to a low of 50,215 points, closing down 563 points or 1.1% at 50,465 points.

In the AI concept and semiconductor stocks, SoftBank (9984.JP) and memory chip stock Kioxia (285A.JP) rose over 4%, while Discus (6146.JP) and Raytech (6920.JP) rose over 1%. Tokyo Electron (8035.JP) and Nvidia supplier Advantest (6857.JP) fell 2.4% and 1.9%, respectively. Wire stocks Furukawa Electric (5801.JP) and Fujikura (5803.JP) rose 0.2% and 1.1%, while Sumitomo Electric (5802.JP) fell 1.1%.

Robot stocks Fanuc (6954.JP) retreated 0.7%, while Yaskawa Electric (6506.JP) rose 0.1%. Heavy industry stocks Mitsubishi Heavy Industries (7011.JP) fell less than 0.1%, while Kawasaki Heavy Industries (7012.JP) and IHI (7013.JP) rose 0.6% and 1.2%. JX Metals (5016.JP) rose 2.4%, while electric power stock Tokyo Electric Power (9501.JP) fell 1.4%.

In other stocks, bank stocks Mitsubishi UFJ Financial (8306.JP) and Sumitomo Mitsui Financial (8316.JP) fell 0.9% and 0.3%. Cartoon IP parent company Sanrio (8136.JP) and Panasonic (6752.JP) fell 0.4% and 0.9%, while Hitachi (6501.JP) and Sony (6758.JP) fell 1.7% and 1.8%. Fast Retailing (9983.JP), Ryohin Keikaku (7453.JP), and Toyota (7203.JP) fell 2.1% to 2.3%, Nintendo (7974.JP) fell 2.8%, and Rakuten Group (4755.JP) rose 0.2%.

The exchange rate of the US dollar against the Japanese yen is 155. (fc/)