Kioxia shares fall as outlook raises concerns over AI demand
Some Kioxia orders slipped to the March quarter due to longer enterprise storage lead times.
Tokyo stocks opened in decline on Monday, following Kioxia Holdings Corp.'s earnings release on the previous day. This release came amid increased apprehension regarding the viability of substantial investments in artificial intelligence technology. In the initial 15 minutes of trading, the 225-share Nikkei Stock Average witnessed a drop of 288.82 points, or 0.46 percent, from the preceding Friday, settling at 63,001.29.
Similarly, the wider Topix index experienced a decline of 24.15 points, or 0.61 percent, concluding at 3,940.92. Among the top-tier Prime Market stocks, warehousing and harbor transportation, banking, and precision instrument companies were among the primary decliners. At 9 a.m., the US dollar was exchanged at 157.68-70 yen, a slight increase from the previous trading day's rates of 157.59-69 yen in New York and 157.55-56 yen in Tokyo.
Meanwhile, the euro was quoted at $1.1156-1157 and 175.92-94 yen in New York and Tokyo, respectively, a marginally higher value compared to the end-of-day rates of $1.1153-1163 and 175.95-176.05 yen on Friday.
Written by urgent.news from The Mainichi's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
