The Nikkei average closed at ¥64,011.34 on the Tokyo stock market on the 11th, down ¥1,259.61 from the previous day. It fell by more than ¥2,000 at one point. Selling spread mainly across AI- and semiconductor-related shares.
The Nikkei Stock Average closed at ¥64,011.34, down ¥1,259.61 from the previous day, marking its first decline in 2 sessions. The closing level was below ¥64,000, while the decline exceeded ¥2,000 at one point. The Tokyo Stock Exchange Stock Price Index (TOPIX) fell 26.28 points to 4,028.30.
The market decline was attributed to rising crude oil futures prices amid turmoil in the Middle East and higher long-term interest rates, heightening concerns about worsening corporate earnings. Selling orders spread mainly across AI (artificial intelligence)- and semiconductor-related shares, affecting the Nikkei average.
The move spread to a broad range of stocks, weakening the market as a whole. Investors indicated that they intended to assess future corporate earnings trends as well as movements in interest rates and oil prices.