Japanese Stocks Retreat as Renewed Tech Weakness
Japan’s Nikkei 225 Index fell 1.3% to below the 64,000 level on Friday, snapping a three-day winning streak as technology shares faced renewed selling pressure following disappointing earnings from major US tech companies. In after-hours trading, Amazon shares plunged around 7% after announcing a sharp increase in capital expenditures, while Intel tumbled 23% after issuing a weaker-than-expected quarterly outlook and signaling a slowdown in the PC market. On the domestic front, investors are awaiting earnings reports from Kioxia Holdings and Tokyo Electron for further indications of AI-related demand, with their shares declining 6% and 3.6%, respectively. Other major technology stocks also recorded steep losses, including Advantest (-6.1%), SoftBank Group (-4.9%) and Lasertec (-9.1%). Meanwhile, market participants turned their attention to the upcoming Bank of Japan policy announcement, with policymakers widely expected to leave interest rates unchanged.
Japan’s Nikkei 225 Index fell 1.3% to below the 64,000 level on Friday, snapping a three-day winning streak as technology shares faced renewed selling pressure following disappointing earnings from major US tech companies. In after-hours trading, Amazon shares plunged around 7% after announcing a sharp increase in capital expenditures, while Intel tumbled 23% after issuing a weaker-than-expected quarterly outlook and signaling a slowdown in the PC market. On the domestic front, investors are awaiting earnings reports from Kioxia Holdings and Tokyo Electron for further indications of AI-related demand, with their shares declining 6% and 3.6%, respectively.
Other major technology stocks also recorded steep losses, including Advantest (-6.1%), SoftBank Group (-4.9%) and Lasertec (-9.1%). Meanwhile, market participants turned their attention to the upcoming Bank of Japan policy announcement, with policymakers widely expected to leave interest rates unchanged.