Tokyo, June 10 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average fell on Wednesday, pressured by profit-taking sales of heavily weighted artificial intelligence and semiconductor-related issues, which had been viewed as overheated, amid growing expectations of a U.S. interest rate hike and escalating tensions in the Middle East. The index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section closed at 64,179.27, down 1,237.36 points, or 1.89 pct, from Tuesday. The broader TOPIX index declined 48.51 points, or 1.25 pct, to 3,847.60. The drops also reflected the previous day’s declines in U.S. high-tech shares, market sources said. The Nikkei temporarily lost over 1,600 points in Wednesday afternoon trading, as position-adjusting selling intensified ahead of the release of the U.S. consumer price index for May later in the day. There is a view that any signs of rising inflation would bolster U.S. rate hike expectations, the sources said. END [Copyright The Jiji Press, Ltd.]
Nikkei Average Drops on Sales of AI, Semiconductor Issues
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