Tokyo Stock Exchange: Nikkei index closes down 2.65 per cent; tech sector takes a hit

(Il Sole 24 Ore Radiocor) - Japanese share prices closed sharply lower, weighed down by heavy selling in technology and semiconductor stocks, fuelled by concerns over the profitability of investments in AI. SoftBank Group, Tokyo Electron and Advantest were among the stocks hit by fears over rising costs for AI and data centre infrastructure, despite solid earnings from some major US companies. The rise in the price of Brent crude oil to over $110 a barrel, against a backdrop of persistent geopolitical tensions, has fuelled inflation fears, whilst high yields on US Treasury bonds have further dampened risk appetite. The Nikkei 225 index fell by 2.65 per cent, closing at 62,907.84 points.

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