Business · Markets · 2 hrs ago

Tokyo stocks end mixed as tech shares weigh on Nikkei

Tokyo stocks end mixed as tech shares weigh on Nikkei

Tokyo stocks finished mixed on Tuesday, with losses in large technology companies weighing on one major index while bank shares supported another.

The Nikkei 225 fell 1.82% to 67,777.52, while the broader Topix rose 0.14% to 4,110.67.

Japanese markets had been closed on Monday for a public holiday.

Overnight losses in US technology shares added pressure, amid concern that competition among companies linked to artificial intelligence is intensifying after a Chinese chip maker announced a technology breakthrough.

The Nikkei has become more sensitive to technology-share movements after adding two semiconductor-related companies in its latest reshuffle, an analyst said.

Investors shifted toward banks and other sectors, helping the Topix recover from earlier losses.

Oil prices above $90 a barrel and tensions involving the United States and Iran also weighed on market sentiment; the figures given are the closing results, with no further market developments specified.

What people are saying

Shota SandoEquity market analyst at Tokai Tokyo Intelligence Laboratory Co.
The tech-heavy Nikkei index gained two additional semiconductor-related issues
via Mainichi EN
has become more sensitive to movements in high-tech shares
via Mainichi EN

Sources

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