Japan's Nikkei 225 fell 0.33% on a sharp drop in Kioxia, but narrowed its decline as Tokyo Electron's strong earnings outlook provided support. The Nikkei 225 stood at 63,081.86 and the TOPIX at 3,930.28.
The Nikkei 225 fell 0.33% in Tokyo trading on Monday, closing at 63,081.86. The TOPIX ended down 0.88% at 3,930.28. Market participants said downside risks across the market were in focus against the backdrop of Wall Street moves and Kioxia's earnings outlook.
Shares of memory-chip maker Kioxia fell 15.78%, with the release of its outlook for the period ending December heightening investor concerns. This was the biggest drag on the Nikkei market, deepening the recent decline.
Tokyo Electron, meanwhile, rose 5.16% after the company indicated that annual consolidated net profit was expected to increase 50%, exceeding analyst forecasts. Panasonic Holdings also rose 5.41% on factors that exceeded expectations, supported by demand related to AI.
Following sharp moves in the U.S. market, the Nasdaq fell sharply during trading hours, while major bank stocks also generally declined. Across the market, moves that offset the Nikkei 225's decline were seen, with performance diverging by stock.