Japan’s Nikkei Extends Decline Amid AI Concerns
The Nikkei 225 Index fell 1.79% to close at 61,078 on Thursday, sliding for the fourth straight session as technology stocks remained under pressure amid growing concerns surrounding artificial intelligence development. Investors became increasingly cautious about the possibility of tighter regulations on data-center investments following Democratic victories in the US midterm elections. Among the biggest losers were Kioxia Holdings (-13.1%), Advantest (-14.7%) and Ibiden Co (-16.3%). Meanwhile, investors rotated into other sectors, particularly consumer and financial stocks, supporting gains in Fast Retailing (4.7%), Nintendo (6.3%) and Mitsubishi UFJ (2.7%). In corporate news, Toyota Motor shares surged 16.7% after the automaker raised its annual earnings forecast, supported by stronger quarterly operating profit driven by a weaker yen and ongoing cost-cutting measures.
The Nikkei 225 Index fell 1.79% to close at 61,078 on Thursday, sliding for the fourth straight session as technology stocks remained under pressure amid growing concerns surrounding artificial intelligence development. Investors became increasingly cautious about the possibility of tighter regulations on data-center investments following Democratic victories in the US midterm elections. Among the biggest losers were Kioxia Holdings (-13.1%), Advantest (-14.7%) and Ibiden Co (-16.3%). Meanwhile, investors rotated into other sectors, particularly consumer and financial stocks, supporting gains in Fast Retailing (4.7%), Nintendo (6.3%) and Mitsubishi UFJ (2.7%).
In corporate news, Toyota Motor shares surged 16.7% after the automaker raised its annual earnings forecast, supported by stronger quarterly operating profit driven by a weaker yen and ongoing cost-cutting measures.