Tokyo, Nov. 5 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average plunged Thursday to end at the lowest level since May 20, reflecting concerns over tighter regulations related to artificial intelligence following the U.S. midterm elections. The index of 225 major issues listed on the Tokyo Stock Exchange’s Prime section ended at 61,077.90, down 1,110.73 points, or 1.79 pct, from Wednesday. The Democratic Party’s “blue wave” in the midterm elections Tuesday fueled investors’ concerns that tighter AI regulations will be introduced in the United States, resulting in selling of technology issues. Semiconductor-related Advantest and Tokyo Electron, and technology investor SoftBank Group pushed down the Nikkei by about 1,800 points. On the other hand, a decline in crude oil prices and receding uncertainty in U.S. politics following the end of the closely watched elections led to buying of many other issues, helping the broader TOPIX index finish Thursday’s session up 45.01 points, or 1.16 pct, at 3,940.39. Among the gainers were Toyota Motor and Uniqlo casual wear store operator Fast Retailing. “Investors’ funds are shifting from AI-related names to other stocks,” an official of a major securities house said. END [Copyright The Jiji Press, Ltd.]
