Japanese Shares Fall as Tech Selloff Intensifies

Japanese Shares Fall as Tech Selloff Intensifies

The Nikkei 225 Index fell 0.8% to below 62,000 on Wednesday, extending the previous session’s losses as technology stocks remained under heavy selling pressure amid persistent concerns over the sustainability of the artificial intelligence trade.

Japanese equities also followed Wall Street lower after chipmakers led overnight declines in the US market.

Among the biggest technology losers were Kioxia Holdings (-2.4%), Tokyo Electron (-5.5%), SoftBank Group (-4.7%), Murata Manufacturing (-9%), and Taiyo Yuden (-5.8%).

Financial stocks also stayed under pressure, with Mitsubishi UFJ (-1.9%), Sumitomo Mitsui (-2%), and Mizuho Financial (-3%) posting notable losses.

On the geopolitical front, the US military said it had successfully intercepted what it described as a surprise Iranian attack targeting US troops stationed across the Middle East, reigniting regional tensions and driving oil prices higher.

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