Japanese Shares Fall as Kioxia Drags
The Nikkei 225 Index dropped 0.33% to close at 63,082 on Monday, extending losses from the previous session as memory chipmaker Kioxia Holdings issued a cautious outlook, raising concerns that AI-driven demand growth may be beginning to moderate. Kioxia shares plunged 15.8% after the company projected operating profit of ¥2 trillion for the December quarter, slightly above its previous quarter’s ¥1.99 trillion, marking a slowdown from the strong earnings growth recorded over recent quarters. Screen Holdings also tumbled 19% after management kept its full-year guidance unchanged despite reporting record order intake and continued strength in the semiconductor equipment market. Other notable losses among technology stocks included Ibiden (-3.8%), Taiyo Yuden (-3%), and SoftBank Group (-1.6%).
The Nikkei 225 Index dropped 0.33% to close at 63,082 on Monday, extending losses from the previous session as memory chipmaker Kioxia Holdings issued a cautious outlook, raising concerns that AI-driven demand growth may be beginning to moderate. Kioxia shares plunged 15.8% after the company projected operating profit of ¥2 trillion for the December quarter, slightly above its previous quarter’s ¥1.99 trillion, marking a slowdown from the strong earnings growth recorded over recent quarters.
Screen Holdings also tumbled 19% after management kept its full-year guidance unchanged despite reporting record order intake and continued strength in the semiconductor equipment market. Other notable losses among technology stocks included Ibiden (-3.8%), Taiyo Yuden (-3%), and SoftBank Group (-1.6%).