Japan’s Nikkei 225 index fell 2.96% at the close of trade on Wednesday, extending losses across key sectors as investors scaled back risk exposure.
The decline was led by sharp drops in industrial and materials names, with the Paper & Pulp, Transport and Communication sectors among the heaviest drags. Declining stocks on the Tokyo Stock Exchange outnumbered advancers by roughly six-to-one, with 3,047 issues falling against 513 rising and 186 unchanged.
The Nikkei Volatility Index, which tracks implied volatility in Nikkei 225 options, fell 6.65% to 25.98, reflecting reduced expectations of near-term market turbulence despite the broad-based sell-off.
Among gainers, pharmaceutical stocks led advances. Sumitomo Dainippon Pharma rose 2.74% to 1,633.50, while Daiichi Sankyo added 1.14% to 2,883.00 and Shionogi gained 1.08% to 2,982.00.
The heaviest losses were concentrated in metals and mining. Sumitomo Metal Mining slumped 11.55% to 10,035.00, Kyowa Kirin fell 11.05% to 2,390.00 and Mitsubishi Materials dropped 9.80% to 5,345.00.
In commodities, Brent crude for November delivery rose 0.89% to $95.49 a barrel, while West Texas Intermediate for October delivery gained 0.45% to $90.63. Gold futures for December delivery fell 0.66% to $4,367.49 per troy ounce.
The yen weakened against major peers, with the USD/JPY pair down 0.33% at 159.64 and EUR/JPY falling 0.55% to 184.66. The U.S. Dollar Index futures were up 0.12% at 99.75.
