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<Asia> Nikkei Closes Down 1,276 Pts or 2.4% as Some Semiconductor Shares Weaken
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Japanese equities rose initially before reversing lower. Optimism that the US-Iran conflict might come to an end lifted the market in early trading. However, after US President Donald Trump said in a televised address that extremely severe strikes would be launched against Iran within the next two to three weeks, hopes for a swift resolution of the conflict were dashed, putting pressure on Japanese stocks.
The Nikkei 225 opened 327 points higher and once climbed 518 points to an intraday peak of 54,258, before turning sharply lower. Losses widened to as much as 1,466 points at a trough of 52,273 in late trading. The index closed down 1,276 points, or 2.4%, at 52,463.
Among AI and semiconductor-related stocks, Advantest (6857.JP) and SoftBank (9984.JP) fell 6.1% and 4.3%, respectively. Kioxia (285A.JP) and Tokyo Electron (8035.JP) dropped 3.2%, while Disco (6146.JP) and Raito Kogyo (6920.JP) slipped 0.2% and 0.9%. In the optical fiber and cable segment, Furukawa Electric (5801.JP) edged down 0.2% and Fujikura (5803.JP) declined 3.4%.
Metal stocks weakened, with JX Metals (5016.JP) down 4.6%, Sumitomo Metal Mining (5713.JP) and Mitsui Mining & Smelting (5706.JP) falling 3.1% and 4%, respectively. Rare earth-related Mitsui E&S (6269.JP) slid 3.1%, trading house Sumitomo Corporation (8053.JP) dropped 2.9%, and oil producer Inpex (1605.JP) fell 2.9%.
Elsewhere, Fast Retailing (9983.JP) lost 1%, Dai-ichi Life (8750.JP) and Tokio Marine (8766.JP) declined 2% and 3%, while Mizuho Financial (8411.JP) fell 2.8%. Tokyo Electric Power (9501.JP), Nintendo (7974.JP) and Shiseido (4911.JP) dropped between 2% and 2.7%, and Ryohin Keikaku (7453.JP) tumbled 4.7%. Shipping firm Nippon Yusen (9101.JP) and heavy machinery maker Mitsubishi Heavy Industries (7011.JP) bucked the trend, rising 3% and 2.6%, respectively.
USD/JPY rebounded above the 159 level and was last quoted at 159.35. (fc/w)
AASTOCKS Financial News
Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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