The Nikkei average in the Tokyo market fell for a 4th straight day, with AI and semiconductor stocks broadly lower. Rotation was also seen. After at one point falling nearly ¥2,000, the Nikkei moved sideways toward the close.
The Nikkei average in the Tokyo stock market fell for a 4th straight day, ending at ¥67,777.52, down about 1.82% from the previous day. AI and semiconductor-related stocks fell broadly, weighing on the index, which at one point declined by nearly ¥2,000.
The Nikkei expanded its losses toward the latter part of the morning session, reaching a low in the ¥68,658 range, but selling eased in the afternoon and the market moved sideways toward the close. More than 70% of stocks in the Prime Market were rising at one point, suggesting the presence of rotational buying.
Market participants said that while they expect AI and semiconductor-related stocks to rise over the medium to long term, concerns about a slowdown in the pace of development and intensifying competition could become selling factors in the short term. The TOPIX ended up 0.14% at 4,110.67 points, while the Prime Market Index ended up 0.13% at 2,118.82 points. Trading value on the TSE Prime Market was approximately ¥7.964 trillion.
Among individual stocks, Kioxia Holdings fell sharply, losing more than 13%. Concerns about intensifying competition grew after Chinese semiconductor maker CXMT announced progress in the design of next-generation DRAM. Toyota Motor and Recruit Holdings rose, while Takeuchi Manufacturing, which announced a share buyback in the afternoon session, gained 5%. Yaskawa Electric held firm following its earnings announcement.
On the TSE Prime Market, 1,140 issues rose (73%), 380 fell (24%) and 32 were unchanged (2%). The TSE Growth Market fell 1.19% to 797.04 points.