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Tokyo Stocks Close Friday Down on Tech Selloff
(MENAFN) Tokyo equities closed sharply lower Friday, with the Nikkei index briefly sliding over 2 percent, as heavyweight tech stocks tracked overnight losses on Wall Street.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 905.30 points, or 1.77 percent, from Thursday at 50,376.53.
The broader Topix index, meanwhile, finished 21.91 points, or 0.65 percent, lower at 3,359.81.
Market analysts attributed the decline to semiconductor and artificial intelligence-related shares mirroring overnight declines by their U.S. counterparts amid mounting worries over recent sector overheating.
Simultaneously, traders moved to secure profits before the weekend and ahead of U.S. chip giant Nvidia Corp.'s earnings release scheduled for next week.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 905.30 points, or 1.77 percent, from Thursday at 50,376.53.
The broader Topix index, meanwhile, finished 21.91 points, or 0.65 percent, lower at 3,359.81.
Market analysts attributed the decline to semiconductor and artificial intelligence-related shares mirroring overnight declines by their U.S. counterparts amid mounting worries over recent sector overheating.
Simultaneously, traders moved to secure profits before the weekend and ahead of U.S. chip giant Nvidia Corp.'s earnings release scheduled for next week.
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