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Tokyo's Nikkei average fell 0.92 percent to 70,035.71, its first drop in three sessions, as profit-taking hit AI and semiconductor names after the index reclaimed 70,000.
  • Finance

Nikkei falls back below 70,000 as traders sell AI and chip shares

6 /10 3 min read
Tokyo, Japan

Tokyo's Nikkei average fell 0.92 percent to 70,035.71, its first drop in three sessions, as profit-taking hit AI and semiconductor names after the index reclaimed 70,000.


The Nikkei average fell for the first time in three sessions on Wednesday, ending 648.27 yen, or 0.92 percent, lower at 70,035.71, Reuters reported from Tokyo.

Traders cited the speed of the recent rise and the fact that the index had recovered the 70,000 level as reasons for caution. Selling was concentrated in artificial-intelligence and semiconductor shares. Tokyo Electron and Kioxia Holdings remained soft, the report said.

The Topix fell 0.7 percent to 4,154.11. The Tokyo Stock Exchange Prime market index fell 0.71 percent to 2,141.85. Turnover on the Prime market was 7.671341 trillion yen.

Eight of 33 sectors rose, including electric and gas utilities. Twenty-five fell, including banks and nonferrous metals.

The close is a one-session reversal after a sharp run. Reuters did not cite a new policy announcement as the cause.


Keywords & tags

  • Nikkei
  • Tokyo Stock Exchange
  • Tokyo Electron
  • Kioxia
  • semiconductors
  • finance
  • japan
  • equities
  • chips

Source

Reuters Japan led the Wednesday Tokyo close with the drop back through 70,000.