Japanese Stocks Rebound as Fears of U.S. Fed Tightening, European Turmoil Weaken - Tech Weakness - Bloomberg

The Tokyo stock market fell. Continuing the flow of US stocks, which fell sharply due to the hawkish attitude of US financial officials, the turmoil in the European market, such as the drop in the British pound and government bonds, is also weighing on investor sentiment.Analyst downgrades US investment ratingapplefell sharply, pushing down high-tech related items such as electrical equipment and other products. Amid concerns about an economic recession, the drop in transportation equipment is also notable.

TOPIX is 11.70 points (0.6%) lower than the previous day at 1857.10 – as of 9:06 am
The Nikkei Stock Average fell ¥243.31 (0.9%) to ¥26,178.74.

Perspectives of market participants

Norihiro Fujito, Chief Investment Strategist, Mitsubishi UFJ Morgan Stanley Securities

Selling of Japanese stocks is likely to dominate due to concerns over global inflation, monetary tightening by the central bank, and concerns about future performance.Nikkei 225 looks set to start treading CME futures levels
The drop in Apple stock will lead to a sell-off in high-value tech stocks, pushing down the stock index.Semiconductor-related stocks, etc., are expected to face severe developments centered on Apple’s suppliers
Non-ferrous metals have the potential to outperform in a tough market environment.The London Metal Exchange may discuss the possibility of banning the supply of Russian metals, and it seems likely that aluminum and nickel prices will rise

TSE 33 industries

High drop rate	Transportation equipment, electrical equipment, other products, land transportation, air transportation
top rate of increase	Insurance, pharmaceuticals, non-ferrous metals, food, construction