Tokyo Stock Exchange: Nikkei closes down 1.82 per cent, weighed down by a sell-off in tech shares

In Seoul, the Kospi plunges by 5.46 per cent amid concerns over the chip sector

(Il Sole 24 Ore Radiocor) - The Tokyo Stock Exchange closed sharply lower, in a session characterised by a massive sell-off that hit technology shares. The Nikkei 225 index closed down 1.82 per cent at 67,777.52 points. The decline was led by shares in the semiconductor and artificial intelligence sectors, with Tokyo Electron, Advantest and SoftBank Group coming under pressure. Tensions in the Middle East and the attacks in Saudi Arabia pushed crude oil futures higher, fuelling inflation fears. Uncertainty over the Bank of Japan’s interest rate outlook also weighed on market sentiment.

The broader Topix index bucked the trend, rising by 0.14 per cent to 4,110.67 points.

In Seoul, the Kospi index, having fallen by more than 7% at one point, recovered towards the close but still recorded a drop of 5.46 per cent, closing at 6,035.35 points. The main cause was the sharp fall in Samsung Electronics and SK Hynix shares, against a backdrop of concerns over growing Chinese competition in the memory chip sector and valuations in the artificial intelligence sector. Massive selling by foreign investors further exacerbated the pressure.

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