Tech Losses Send Japan Stocks Lower
The Nikkei 225 index fell 0.8% to around 38,030, while the broader Topix index fell 0.2% to 2,693 on Thursday, as Japanese shares hit a multi-week low, driven largely by losses in the technology sector.
The declines followed a sharp drop in Nvidia shares after hours, despite the company reporting better-than-expected quarterly results and providing strong forward guidance.
Nvidia’s struggles weighed heavily on the broader technology sector, with significant losses for Advantest (-4.1%), Disco (-2.7%), Lasertec (-1.4%), SoftBank Group (-2.4%), and Tokyo Electron (-1.4%).
Other major index components also fell, including Mitsubishi Heavy Industries (-2.2%), IHI Corp (-1.5%), and Inpex Corp (-2%). On the economic front, investors are looking ahead to Japan’s latest inflation data due on Friday to gauge the country’s economic outlook and monetary policy.
Source: Trading Economics