The Nikkei 225 Index Closes 0.74% Lower
The Nikkei 225 Index declined by 0.85% to close at 38,026, while the broader Topix Index lost 0.57% to 2,683 on Thursday, as Japanese shares hit multi-week lows, largely driven by losses in the technology sector.
The drop followed a sharp decline in Nvidia’s stock after-hours, despite the company reporting better-than-expected quarterly results and providing strong forward guidance.
Nvidia's struggles weighed heavily on the broader tech sector, with notable losses from Advantest (-1.6%), Lasertec (-0.8%), SoftBank Group (-1.1%), Tokyo Electron (-0.4%), and Hitachi (-1.7%).
Other key index components also saw declines, including Mitsubishi Heavy Industries (-3.1%), IHI Corp (-3.9%), and Fast Retailing (-2.4%). On the economic front, investors are awaiting Japan's latest inflation data, set to be released on Friday, to assess the outlook for the country’s economy and monetary policy.
Source: Trading Economics