Japanese Shares Slip on Tech Pressure
The Nikkei 225 Index slipped 0.3% toward the 63,000 level on Monday, extending its losses from the previous session as technology shares remained under pressure amid growing concerns over the sustainability of the artificial intelligence trade. Japanese equities also mirrored Friday’s declines on Wall Street, where Intel plunged nearly 30%, marking its steepest single-day drop in more than four decades. Domestically, disappointing tech earnings dragged down AI-related stocks, including Kioxia (-13%), Ibiden Co (-6%), and Screen Holdings (-5.8%). Major banking stocks such as Mitsubishi UFJ (-2.3%),Sumitomo Mitsui (-2.6%) and Mizuho Financial (-2.5%) also posted sharp losses. Meanwhile, investors are turning their attention to Japan’s wage data due this week for further indications of the Bank of Japan’s monetary policy outlook. Last week, the BOJ left rates unchanged but indicated that underlying inflation had finally reached its 2% target.
The Nikkei 225 Index slipped 0.3% toward the 63,000 level on Monday, extending its losses from the previous session as technology shares remained under pressure amid growing concerns over the sustainability of the artificial intelligence trade. Japanese equities also mirrored Friday’s declines on Wall Street, where Intel plunged nearly 30%, marking its steepest single-day drop in more than four decades. Domestically, disappointing tech earnings dragged down AI-related stocks, including Kioxia (-13%), Ibiden Co (-6%), and Screen Holdings (-5.8%).
Major banking stocks such as Mitsubishi UFJ (-2.3%),Sumitomo Mitsui (-2.6%) and Mizuho Financial (-2.5%) also posted sharp losses. Meanwhile, investors are turning their attention to Japan’s wage data due this week for further indications of the Bank of Japan’s monetary policy outlook. Last week, the BOJ left rates unchanged but indicated that underlying inflation had finally reached its 2% target.