Nikkei Falls as Profit-Taking Hits AI and Chip Shares
Tokyo stocks fell on October 7, with the Nikkei 225 closing at 70,036, down 648 points, as investors took profits in semiconductor and artificial intelligence-related shares after the index’s rapid climb above 70,000 earlier in the week. (News On Japan)
Tokyo stocks declined on October 7, with the Nikkei 225 closing at 70,036, down 648 points, as investors took profits in AI and chip-related shares following the index's rapid climb above 70,000 earlier in the week. The broader TOPIX fell 0.7% to 4,154.11. The decline marked the Nikkei's first fall in three sessions, and despite the market's momentum remaining powerful, it was shown to be fragile due to the speed of the rise, which left the market vulnerable to profit-taking.
Semiconductor shares were the main contributors to the decline, with Tokyo Electron, Advantest, Fast Retailing, Kioxia Holdings, and TDK among the largest negative contributors.
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