Tokyo, Nov. 4 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average briefly plunged over 3,000 points Wednesday due to heavy selling of semiconductor- and artificial intelligence-related issues. At 1:37 p.m., the index of 225 major stocks listed on the Tokyo Stock Exchange’s Prime section stood at 60,030.10, down 3,051.76, or 4.84 pct, from Monday’s close. The Tokyo market was closed on Tuesday for a national holiday. The Nikkei average extended its losses in the afternoon as vote counting for the U.S. midterm elections progressed, with reports showing Democrats leading. Democrats have proposed tighter regulation of AI development and data center construction, which could impact capital spending by tech companies. “As the election results have not been finalized yet, risk-averse selling is also intensifying,” an official at a major securities company said. END [Copyright The Jiji Press, Ltd.]
