Japanese Shares Struggle on Tech Weakness

Japanese Shares Struggle on Tech Weakness

The Nikkei 225 Index fell 0.7% to below 69,300 while the broader Topix Index rose 0.4% to 4,120 in mixed trading on Tuesday, as weakness in technology stocks continued to weigh on the broader market.

Regional sentiment also weakened after Samsung Electronics shares tumbled despite the company reporting strong profit growth, supported by robust demand for AI data center memory chips.

In Japan, investors assessed data showing nominal wages rose 3.2% in May, while household spending declined 0.4%.

Major decliners included Kioxia Holdings (-8.3%), Taiyo Yuden (-5.6%), Murata Manufacturing (-4.3%), Lasertec (-6.4%), and Ibiden Co (-4.7%).

In contrast, financial stocks such as Mitsubishi UFJ (3.5%), Mizuho Financial (3.2%) and Sumitomo Mitsui (1.8%) posted strong gains.

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