The Nikkei Stock Average fell for a second straight session on the Tokyo Stock Exchange on the 23rd, closing down ¥214.68 at ¥62,693.16 and falling to a three-month low. The decline in technology stocks amid concerns about deteriorating funding conditions for AI-related businesses and massive investment spending weighed on the market.
The Nikkei Stock Average fell for a second straight session on the Tokyo Stock Exchange on the 23rd, closing down ¥214.68, or 0.34%, from the previous day at ¥62,693.16. It fell to its lowest level in 3 months since 30 July. Following the market’s run at high levels through the previous day, concerns about deteriorating funding conditions for AI-related businesses and massive investment spending prompted selling in technology stocks. The Nikkei Average temporarily fell below ¥62,000 during trading, while the decline at one point exceeded ¥1,400. This article is based on reporting by Nikkei QUICK News.
Selling centered on semiconductor-related stocks drove the decline across the Tokyo market, with losses widening toward the end of the session. Export-related stocks and uncertainty over the domestic economy were also cited as contributing factors, but the article does not provide specific stock names or sector-level details.