The Japanese stock market was volatile in the morning session. Foreign capital continued to buy Nikkei Average Index futures, pushing the market up initially, but investor selling at high levels affected the market. The Nikkei Average Index opened 105 points higher and once rose 426 points to a peak of 54,175 points before retreating, falling 91 points or 0.2% at midday to 53,658 points.In the AI and semiconductor sectors, SoftBank (9984.JP) and Raytheon Technologies (6920.JP) rose 2% and 3.7%, respectively, while Advantest (6857.JP) and Disco Corporation (6146.JP) fell 2% and 1.1%. Tokyo Electron (8035.JP) rose 0.3%. Googles research on algorithm compression of AI models affected memory usage, putting pressure on US memory stocks, and Japanese memory company Kioxia (285A.JP) fell 6.2%. In the electric wire sector, Furukawa Electric (5801.JP) and Fujikura (5803.JP) rose 7.2% and 3.1%, respectively.Among other stocks, Fast Retailing (9983.JP) rose less than 0.1%, JX Nippon Mining & Metals (5016.JP) fell 2.8%, and Mitsui Ocean Development & Engineering (6269.JP), a rare earth concept stock, fell 3.4%. In the shipping sector, Mitsui O.S.K. Lines (9104.JP) rose 3%. Nissan (7201.JP) and Panasonic (6752.JP) rose 2.2% and 2.7%, respectively, while Hitachi (6501.JP) and Sanrio (8136.JP) fell 2.3% and 2.4%. Tokyo Electric Power Company (9501.JP) fell 1.5%. Tokio Marine (8766.JP), which had hit the upper limit for two consecutive days, retreated 1.8%.The USD/JPY exchange rate was 159.49. (fc/a)
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