The Nikkei fell by more than ¥1,400 at one point at the start of the week, dropping into the ¥63,000 range. Following declines in US markets, selling was pronounced in AI and semiconductor stocks in Tokyo, while developments in the crude oil market were also cited as a source of concern.
The Nikkei fell from the opening bell at the start of the week, with selling dominating throughout the session. The decline widened at times toward the close.
The Nikkei fell into the ¥63,000 range for the first time in about a month. The decline widened at the open, after which the index remained in the ¥63,000 range.
Following declines across all major US stock indexes last week, selling spread through the Tokyo market, centered on AI and semiconductor-related stocks.
Market participants were said to remain concerned about the massive investments planned by AI-related companies. WTI crude oil futures also exceeded $100 at times amid the prolonged situation in the Middle East, which was cited as another source of concern.