Nikkei 225 closes 1.4% lower after Democrats sweep Congress
Chip and AI-linked shares led the decline, with Taiyo Yuden and Socionext each falling more than 5%.
By The Carnegie Standard Staff
· 1 min read
Japanese stocks trimmed steep losses on November 4 as investors turned to the question of how artificial intelligence regulation may change after Democrats took control of both chambers of the US Congress in the midterm elections, Bloomberg reported.
The Nikkei 225, which carries heavy weighting in technology shares, fell as much as 4.8% during the session before recovering part of the drop and finishing 1.4% lower. The broader Topix index closed down 0.9%.
Chipmakers and other AI-linked companies were among the weakest names. Taiyo Yuden Co., which makes electronic components, and Socionext Inc., a semiconductor device company, each dropped more than 5%, according to Bloomberg.
This story was first reported by Bloomberg.
Comments