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Tokyo Stocks End Wednesday in Red
(MENAFN) Tokyo equities sank sharply Wednesday as investor caution intensified over lofty valuations in AI-related shares, following a sweeping decline in U.S. technology stocks overnight.
The Nikkei 225, Japan’s key benchmark index, fell 1,284.93 points, or 2.5 percent, to close at 50,212.27.
Heavy losses in semiconductor and technology giants, including Advantest, Tokyo Electron, and SoftBank Group, pressured the market throughout the session. At one point, the Nikkei dropped more than 2,400 points, briefly dipping below the psychologically significant 50,000 level.
“Buying on dips emerged in the afternoon from investors who had missed the earlier rally,” analysts noted.
Meanwhile, the broader TOPIX index slid 41.85 points, or 1.26 percent, ending at 3,268.29.
On the Tokyo Stock Exchange Prime Market, decliners outnumbered gainers 1,145 to 420, with 50 stocks unchanged.
The Nikkei 225, Japan’s key benchmark index, fell 1,284.93 points, or 2.5 percent, to close at 50,212.27.
Heavy losses in semiconductor and technology giants, including Advantest, Tokyo Electron, and SoftBank Group, pressured the market throughout the session. At one point, the Nikkei dropped more than 2,400 points, briefly dipping below the psychologically significant 50,000 level.
“Buying on dips emerged in the afternoon from investors who had missed the earlier rally,” analysts noted.
Meanwhile, the broader TOPIX index slid 41.85 points, or 1.26 percent, ending at 3,268.29.
On the Tokyo Stock Exchange Prime Market, decliners outnumbered gainers 1,145 to 420, with 50 stocks unchanged.
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