Nikkei 225 slips 0.5% as tech and AI-linked stocks weigh
Japan’s Nikkei 225 fell 0.5% to below 65,600 as technology and AI-linked shares came under pressure, even as US tech rebounded overnight.
The Nikkei 225 Index fell 0.5% to below 65,600 on Wednesday, giving back some of the previous session’s gains as technology and artificial intelligence-linked stocks came under pressure.
The declines came despite a rebound in US technology stocks on Wall Street overnight, as long-term Treasury yields retreated from recent highs and lower oil prices eased inflation concerns.
Meanwhile, investors awaited chip giant Nvidia’s earnings report later in the global day for fresh indications of the strength of AI-related demand.
Notable tech decliners in Japan included Kioxia Holdings (-1.5%), Fujikura (-1.6%), Advantest (-1.7%), Taiyo Yuden (-3%) and Tokyo Electron (-1.9%).
In contrast, financial stocks outperformed, led by gains in Mitsubishi UFJ (0.9%), Sumitomo Mitsui (1.1%) and Mizuho Financial (0.8%).