Solid Gold Berjangka – The Nikkei 225 index fell 1.79%, closing at 61,078 in Thursday’s (Nov 5) trading session. This marks the fourth consecutive decline, as tech stocks remain under pressure amid growing concerns regarding the development and regulation of artificial intelligence.
Negative sentiment intensified following the Democratic Party's performance in the U.S. midterm elections, which fueled expectations for stricter regulations—particularly concerning investments in data centers. These concerns triggered a major sell-off across several Japanese tech stocks.
Kioxia Holdings plummeted 13.1%, Advantest dropped 14.7%, and Ibiden fell 16.3%. The sharp declines in these shares were a primary factor weighing on the Nikkei’s performance throughout the trading session.
Meanwhile, investors began shifting capital into other sectors, such as consumer goods and finance. Fast Retailing rose 4.7%, Nintendo climbed 6.3%, and Mitsubishi UFJ posted a 2.7% gain.
Separately, shares of Toyota Motor surged 16.7% after the company raised its annual profit forecast. This performance was bolstered by growth in quarterly operating profit, a weaker yen, and the company’s ongoing cost-efficiency initiatives. (srh)