The Nikkei Average extended its decline in the Tokyo Stock Exchange morning session on the 4th, falling more than ¥2,000 at one point. Semiconductor-related stocks were sold as vote counting progressed in the U.S. midterm elections, and caution has spread.
The Nikkei Average extended its decline in the Tokyo Stock Exchange morning session on the 4th, with its drop from the previous business day exceeding ¥2,000 at one point. It also approached ¥61,000, recording its lowest intraday level since 30 July.
Deteriorating market sentiment ahead of the U.S. midterm election results has led to selling in semiconductor-related stocks. AI- and semiconductor-related stocks including Kioxia Holdings, SoftBank Group and Tokyo Electron were lower across the board.
The Democratic Party is reportedly in the lead in the midterm elections, and some market participants believe developments in AI regulation could affect investment trends going forward. Futures trading in overseas markets and price movements in related stocks will also remain in focus.
The Korea Composite Stock Price Index and E-mini Nasdaq-100 futures were also lower, indicating that the global risk-off trend is affecting the Japanese market as well.