Nikkei Falls 1.9%, Chip and Electronics Stocks Under Pressure
Japanese stocks experienced a sharp decline on Wednesday, led by chip and electronics stocks, which were pressured by weakness in US technology stocks overnight. The Nikkei Stock Average fell 1.9% to 50,523.00. Stocks such as Kioxia Holdings fell 11%, SoftBank Group fell 9.1%, and Advantest plunged 8.1%. This decline reflects uncertainty in the Japanese market regarding the global technology sector.
The Japanese yen also weakened slightly against the US dollar, with USD/JPY trading at 153.62, slightly higher than 153.55 at the Tokyo market close the previous day. Investors are now focused on corporate earnings reports and how economic measures taken by Prime Minister Sanae Takaichi might affect the market.
Technology stocks have been a major focus for global markets, with uncertainty over the sector's performance affecting investor sentiment worldwide. This has created tension in the Japanese stock market, which is increasingly affected by concerns about the growth of the electronics and chip sectors.
Meanwhile, Toyota Motor is expected to announce its financial results that day, which will be of interest to investors as they assess the economic impact on the Japanese automotive sector. Investors will be closely watching how the Japanese government's economic measures can support economic recovery and the industrial sector amid global uncertainty. (Asd)
Source: Newsmaker.id
