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2026-11-02 09:04:27
[Nikkei Index Slightly Lower, Dragged Down by Tech Stocks] On Monday, the Nikkei 225 index fell 0.3%, nearing the 63,000-point mark, continuing the previous trading day's decline. Tech stocks remained under pressure amid escalating concerns about the sustainability of artificial intelligence transactions. Japanese stocks also followed Wall Street's decline on Friday, with Intel plunging nearly 30%, its biggest single-day drop in over four decades. Domestically, disappointing earnings reports from tech companies dragged down AI-related stocks, including Kioxia (-13%), Ibiden (-6%), and Scrinn Group (-5.8%). Major bank stocks such as Mitsubishi UFJ (-2.3%), Sumitomo Mitsui (-2.6%), and Mizuho Financial (-2.5%) also fell sharply. Meanwhile, investors are turning their attention to this week's upcoming Japanese wage data for further clues about the Bank of Japan's monetary policy outlook. Last week, the Bank of Japan kept interest rates unchanged but stated that underlying inflation had finally reached its 2% target.
