The Nikkei Average fell sharply in Tokyo trading on the 11th, closing ¥1,259 lower than the previous day at ¥60,401. Selling spread mainly across AI- and semiconductor-related stocks, and the Nikkei chart showed signs of a downside break from a triangle consolidation pattern.
The Nikkei Average fell sharply in Tokyo trading on the 11th, closing ¥1,259 lower than the previous day at ¥60,401. It was at its lowest level in roughly one month, since 4 August, and deteriorating investor sentiment heightened caution.
Surging crude oil prices amid worsening tensions in the Middle East, along with rising interest rates in Japan and the US, weighed on the broader market. Selling spread particularly across artificial intelligence- and semiconductor-related stocks.
On the daily chart, the Nikkei Average broke downward out of a triangle consolidation pattern, with some observers pointing to this as a sign of a further decline. Caution is considered warranted regarding the market's future direction.