Nikkei extends fall, closes 11 yen lower on Oct. 9 as AI and chip stocks are sold
In short
The Nikkei Stock Average extended its decline on Oct. 9, closing 11 yen lower, with AI and semiconductor-related shares sold, Tokyo Shimbun and Nishi-Nippon Shimbun reported. Nikkei reported the index was down more than 800 yen at one point during the morning session. On the previous day, Oct. 8, the Nikkei had ended the morning session down 662.31 yen (0.95%) at 69,373.40 after US stock losses and a lack of progress in US-Iran ceasefire talks weighed on the market.
Read the full story 2 min read
The Nikkei Stock Average extended its decline on Oct. 9, ending the day 11 yen lower as AI and semiconductor-related shares were sold, Tokyo Shimbun and Nishi-Nippon Shimbun reported. Nikkei reported earlier in the day that the index had continued to fall in the morning session and was down 800 yen at one point, with selling concentrated in AI and semiconductor stocks. [ 2 , 3 , 4 ]
The Oct. 9 session followed a weak Oct. 8. Nikkei reported that the Nikkei Stock Average ended the Oct. 8 morning session down 662.31 yen (0.95%) at 69,373.40, having fallen more than 800 yen at one point. US stocks had fallen on Oct. 7, with the Dow Jones Industrial Average and other major indices all lower as US long-term interest rates rose at one point to their highest in 24 years, and in Tokyo foreign investors' selling of index futures and major stocks dominated. Nikkei said the view that US-Iran talks on a final ceasefire agreement were not progressing also weighed on Japanese stocks, and that sentiment worsened after some reports during the Oct. 8 morning that President Trump had shown a reluctant stance on a final agreement to end fighting with Iran, prompting profit-taking in stocks that had been firm, such as SoftBank Group. [ 1 ]
Nikkei said the index pared some losses toward the end of the Oct. 8 morning session. With the Nikkei below the 70,000 mark, buying on dips increased in some AI and semiconductor stocks expected to post strong earnings, with Advantest turning higher after an early fall, and lower Japanese long-term interest rates supported the market. TOPIX ended the morning down 62.02 points (1.49%) at 4,092.09, and the JPX Prime 150 index also fell. Turnover on the Prime market was about 3.51 trillion yen on volume of 971.95 million shares; 1,360 Prime stocks fell, about 90% of the total, while 170 rose and 22 were unchanged. TDK and Fujikura were sold, trading houses Mitsubishi Corp. and Mitsui & Co. declined, and Komatsu and Kubota fell after a drop in shares of US construction equipment maker Caterpillar, while Kioxia, Recruit and Trend rose. [ 1 ]
Why it matters
The Nikkei has slipped below the 70,000 mark and recorded intraday drops of more than 800 yen on consecutive days, with selling concentrated in AI and semiconductor names that had been driving the market. The coverage ties the moves to US interest rates and the US-Iran ceasefire talks, so the Tokyo market remains sensitive to developments abroad.
Key facts
- The Nikkei Stock Average extended its decline on Oct. 9 and closed 11 yen lower, with AI and semiconductor-related stocks sold. [ 3 , 4 ]
- Nikkei reported that the index was down 800 yen at one point in the Oct. 9 morning session, with selling in AI and semiconductor shares. [ 2 ]
- On Oct. 8 the Nikkei ended the morning session down 662.31 yen (0.95%) at 69,373.40, after falling more than 800 yen at one point. [ 1 ]
- On Oct. 8 TOPIX ended the morning down 62.02 points (1.49%) at 4,092.09; 1,360 Prime stocks fell, about 90% of the total, while 170 rose and 22 were unchanged. [ 1 ]
- Nikkei attributed the Oct. 8 selling to the previous day's US stock decline, foreign investors' sales of index futures and major stocks, and the view that US-Iran talks on a final ceasefire agreement were not progressing. [ 1 ]
- Nikkei said investor sentiment worsened on Oct. 8 after reports that President Trump had shown a reluctant stance on a final agreement to end fighting with Iran, prompting profit-taking in stocks such as SoftBank Group. [ 1 ]
Confirmed by several sources
Still unclear
- The size of the Oct. 9 intraday drop and the closing levels of the Nikkei and TOPIX on Oct. 9. Only Nikkei's headline reports a drop of 800 yen at one point in the Oct. 9 morning session; the other outlets give only the 11-yen closing decline and no index levels.
- Which AI and semiconductor stocks were sold on Oct. 9 and why. The Oct. 9 documents are headlines only and give no names or reasons.
What local media are saying
Timeline, local time
- Oct. 8: Nikkei reports the Nikkei Stock Average ended the morning session down 662.31 yen (0.95%) at 69,373.40 after falling more than 800 yen at one point; TOPIX down 62.02 points at 4,092.09. [ 1 ]
- Oct. 9: Nikkei reports the Nikkei Stock Average continued to fall in the morning session, down 800 yen at one point, with AI and semiconductor stocks sold. [ 2 ]
- Oct. 9: Tokyo Shimbun reports the Nikkei closed 11 yen lower, extending its decline, with AI and semiconductor-related shares sold. [ 3 ]
- Oct. 9: Nishi-Nippon Shimbun reports the Nikkei closed 11 yen lower with AI and semiconductor-related shares sold. [ 4 ]