The Nikkei Stock Average opened lower today. This is likely due to China’s tightening of export controls on “dual-use” items, such as rare earth-related items, to Japan.
[Video] Nikkei Stock Average Fluctuations
This year, the Nikkei Stock Average has risen by more than 2,000 yen in two days, driven by the rise in US stock prices due to the situation in Venezuela and expectations for AI.
Yesterday’s closing price was 52,518 yen, a new all-time high. However, today’s price reversed, opening trading nearly 400 yen lower.
Market participants point to concerns over China’s announcement to Japan that it will tighten export controls on items with potential military uses as one factor. Additionally, they believe there is a growing trend of profit-taking following this year’s rapid rise. (ANN News