
The Nikkei Average Index fell 4.7% in the first half of the day, losing the 50,000-point mark
Japanese stocks significantly declined in the early market, dragged down by related U.S. stocks that fell overnight (on the 4th). The Nikkei average opened down 205 points, with the initial decline narrowing to 74 points, peaking at 51,422 points before rapidly dropping, closing at a loss of 2,393 points or 4.7%, at 49,104 points.
AI concept and semiconductor stocks plummeted, with SoftBank (9984.JP) down 14.3%, Seiko (3436.JP), Discus (6146.JP), Kioxia (285A.JP), and Advantest (6857.JP) down 9.9% to 11.6%, Raytech (6920.JP) and Tokyo Electron (8035.JP) down 8.7% and 6.1%, and NetScreen (7735.JP) down 3.5%.
Wire stocks such as Furukawa Electric (5801.JP) and Fujikura (5803.JP) fell 11.9% and 9.9%, while Sumitomo Electric (5802.JP) dropped 7%. JX Metals (5016.JP) fell 10%. Electric power stock Tokyo Electric Power Company (9501.JP) decreased by 2.3%. Heavy industry stocks Mitsubishi Heavy Industries (7011.JP), Kawasaki Heavy Industries (7012.JP), and IHI (7013.JP) fell between 5.9% and 6.5%.
In other stocks, Hitachi (6501.JP) fell 7.2%, Mitsubishi UFJ Financial Group (8306.JP), Toyota (7203.JP), Panasonic (6752.JP), and Rakuten Group (4755.JP) dropped 3.8% to 4.7%, while Sony (6758.JP) fell 2.3%. Nintendo (7974.JP) raised its full-year operating profit guidance, with its stock price rising by 5%. Fast Retailing (9983.JP) and Sanrio (8136.JP) increased by 1% and 1.1%.
The dollar fell against the yen, last reported at 153.26
