Tokyo stocks fall over 1,400 yen at one point on tech selling, then regain 65,000
In short
On 19 October the Nikkei average fell by more than 1,400 yen at one point and dipped below 64,000 during trading for the first time in about a month, before closing 407.59 yen lower at 64,916.70. Outlets linked the drop to a fall in US tech and chip shares and high oil prices. On 21 October Tokyo shares rose by more than 1,300 yen at one point and regained 65,000.
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Tokyo shares fell sharply at the start of trading on 19 October. Nikkei reported that the Nikkei average opened lower and was down more than 1,400 yen from the previous Friday, trading in the low 63,900s. It was the first time in about a month that the average had fallen below 64,000 during trading. Tokyo Shimbun and Nishi-Nippon Shimbun put the fall at 1,411 yen as of 9:15. [ 1 , 2 , 3 ]
Nikkei said the previous Friday the Philadelphia Semiconductor Index fell 3.8% and the Nasdaq Composite fell more than 2%, worsening investor sentiment. Major chip shares such as Advantest opened lower in Tokyo. Nikkei also cited US long-term interest rates in the 5% range, concerns about AI company financing and the sustainability of investment, and a further drop in CoreWeave shares after a rise in its bond yields. [ 1 ]
Nikkei added that New York crude futures were above 100 dollars a barrel in after-hours trading on Japanese morning because of worries over Middle East oil supply, and that the KOSPI had opened lower. It reported selling of chip shares alongside buying of defensive domestic shares such as retailers and land transport. SoftBank Group, Tokyo Electron, Ibiden and Fast Retailing were lower, while KDDI, BayCurrent, Secom and Nitori Holdings were higher. [ 1 ]
Sankei reported that the Nikkei average closed down 407.59 yen at 64,916.70. The Topix rose 1.48 points to 4,067.48, and volume was 2,061,920,000 shares. Sankei attributed the fall to a US market view that heavy AI investment was squeezing management, and said high US crude prices amid Middle East tension also weighed. It said buying of cheaper shares in the afternoon narrowed the loss. [ 8 ]
On 20 October the Tokyo market was down 406 yen at 9:15, and the morning close was 64,512 yen. Headlines from Tokyo Shimbun and Nishi-Nippon Shimbun cited selling of chip shares and high oil prices. [ 9 , 10 , 11 , 12 ]
On 21 October shares rose, up 1,139 yen at 9:15. Sankei reported a gain of more than 1,300 yen at one point and a return to 65,000, welcoming a pause in oil prices. The morning close was 64,823 yen. On 22 October the market was up 9 yen at 9:15. [ 13 , 14 , 15 , 16 , 17 , 18 ]
Why it matters
The reports show Tokyo shares moving with US technology and chip stocks, AI investment concerns and oil prices. The documents give only market figures and the reasons outlets cite, not wider effects.
Key facts
- On 19 October the Nikkei average closed at 64,916.70, down 407.59 yen from the previous session, after falling by more than 1,400 yen at one point. [ 6 , 7 , 8 ]
- It was the first time in about a month that the average fell below 64,000 during trading. [ 1 , 8 ]
- The previous Friday, the Philadelphia Semiconductor Index fell 3.8% and the Nasdaq Composite fell more than 2%, Nikkei reported. [ 1 ]
- On 20 October the Tokyo market was down 406 yen at 9:15, and the morning close was 64,512 yen, with chip selling and high oil prices cited in the headlines. [ 9 , 10 , 11 , 12 ]
- On 21 October the Tokyo market was up 1,139 yen at 9:15, rose by more than 1,300 yen at one point to regain 65,000, and had a morning close of 64,823 yen. [ 13 , 14 , 15 , 16 , 17 ]
- On 22 October the Tokyo market was up 9 yen at 9:15. [ 18 ]
Confirmed by several sources
- On 19 October the Tokyo market fell by more than 1,400 yen at one point. [ 1 , 6 , 7 , 8 ]
- On 19 October the Tokyo market was down 1,411 yen at 9:15. [ 2 , 3 ]
- Outlets cited US tech share declines as a weight on Tokyo shares on 19 October. [ 1 , 4 , 5 , 6 , 7 , 8 ]
- Tokyo shares briefly fell below 64,000 yen on 19 October. [ 1 , 4 , 5 , 8 ]
- On 20 October the Tokyo market was down 406 yen at 9:15. [ 9 , 10 ]
- On 20 October the morning close was 64,512 yen. [ 11 , 12 ]
- On 21 October the Tokyo market was up 1,139 yen at 9:15. [ 13 , 14 ]
- On 21 October the morning close was 64,823 yen, with a pause in oil prices cited in the headlines. [ 16 , 17 ]
Still unclear
- Why shares fell on 19 October. Nikkei cited the US chip and tech slump, high US long-term yields, AI financing concerns, CoreWeave shares, oil above 100 dollars a barrel and a lower KOSPI. Sankei cited US tech selling over AI investment, and high US crude prices. The documents do not rank the causes.
- Closing levels on 20, 21 and 22 October. The documents for those days give only 9:15 and morning figures.
- Reasons for the moves on 20 and 21 October. These are given only in headlines (chip selling and oil prices on 20 October, a pause in oil prices on 21 October), with no article text.
What local media are saying
Timeline, local time
- 19 October: the Tokyo market was down 1,411 yen. [ 2 , 3 ]
- 19 October: Nikkei reported the average down more than 1,400 yen in the low 63,900s after the opening. [ 1 ]
- 19 October: Tokyo Shimbun and Nishi-Nippon Shimbun reported shares had briefly fallen below 64,000 yen. [ 4 , 5 ]
- 19 October: Sankei reported a close of 64,916.70, down 407.59 yen. [ 8 ]
- 20 October: the Tokyo market was down 406 yen. [ 9 , 10 ]
- 20 October: morning close of 64,512 yen. [ 11 , 12 ]
- 21 October: the Tokyo market was up 1,139 yen. [ 13 , 14 ]
- 21 October: Sankei reported a rise of more than 1,300 yen at one point and a return to 65,000. [ 15 ]
- 21 October: morning close of 64,823 yen. [ 16 , 17 ]
- 22 October: the Tokyo market was up 9 yen. [ 18 ]