Japanese stocks continued to fall on the 2nd. Stock selection intensified amid uncertainty over the US midterm elections and a correction in AI-related stocks, with Kioxia Holdings and other companies whose earnings were viewed as disappointing falling. Bonds edged lower.
The Japanese market continued to fall on the 2nd, and investor stock selection intensified as AI-related stocks entered a global correction phase. Developments surrounding the US midterm elections and speculation related to AI were also seen as supporting caution in the market.
Kioxia Holdings was cited among the stocks that fell after its earnings came in below market expectations, and selling spread to other stocks. As a result, the upper levels of major stock indexes were pushed down.
In the bond market during the same period, prices edged lower and yields were said to have risen slightly. Overall, the market remained under the influence of expectations for US interest-rate hikes, while the correction in growth stocks continued.