Japan’s Nikkei Tumbles Nearly 4 Percent as AI, Chip Stocks Sink
(MENAFN) Japan's benchmark Nikkei stock index tumbled sharply on Tuesday, dragged down by intense selling pressure that swept through shares tied to artificial intelligence and the semiconductor sector, wiping out significant value in a single trading session.
The 225-issue Nikkei Stock Average closed down 2,566.27 points, or 3.95 percent, compared with Monday's level, settling at 62,364.92 by the end of the day's trading.
Meanwhile, the broader Topix index also finished firmly in negative territory, slipping 102.48 points, or 2.52 percent, to close at 3,963.59.
Investors pointed to a steep selloff in semiconductor-related shares as the primary driver behind the day's losses, with Japanese chip stocks closely tracking a similar downturn already seen among their American counterparts overnight.
The 225-issue Nikkei Stock Average closed down 2,566.27 points, or 3.95 percent, compared with Monday's level, settling at 62,364.92 by the end of the day's trading.
Meanwhile, the broader Topix index also finished firmly in negative territory, slipping 102.48 points, or 2.52 percent, to close at 3,963.59.
Investors pointed to a steep selloff in semiconductor-related shares as the primary driver behind the day's losses, with Japanese chip stocks closely tracking a similar downturn already seen among their American counterparts overnight.
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