Japan: Japan's Nikkei share average experienced a downturn on Monday, reflecting a 0.7% decrease as artificial intelligence-related stocks faced pressure ahead of Nvidia's upcoming earnings report.
According to Qatar News Agency, the Nikkei concluded trading at 65,528.09 points. The decline was attributed to a significant drop in most AI-related stocks, including Fujikura, which fell by 5%, Advantest, which decreased by 3.9%, and SoftBank Group, which saw a reduction of 5.3%. In contrast, Tokyo Electron bucked the trend, posting a gain of 1.6%.
The broader Topix index showed resilience, registering a gain of 0.2%. However, the downward trend in AI-related stocks extended beyond Japan, impacting other Asian markets. In South Korea, Samsung Electronics experienced a significant decline of 9%, leading to a 3.1% drop in the KOSPI. Meanwhile, China's Alibaba faced a substantial decrease of approximately 10.5%.