Tokyo Stocks Turn Lower Led by Techs

Jiji Press

17:06 JST, August 25, 2023

TOKYO (Jiji Press) — Tokyo stocks turned lower Friday to snap their four-day winning streak, with technology issues particularly hit hard by selling stemming from the weakness of their U.S. peers.

The Nikkei average of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section tumbled 662.93 points, or 2.05%, to finish at 31,624.28. The broader TOPIX index ended down 20.19 points, or 0.88%, at 2,266.40.

Stocks succumbed to hefty selling from the outset in the wake of a Wall Street sell-off Thursday amid rekindled concerns over a prolonged U.S. interest rate hike campaign, with the tech-heavy Nasdaq composite index registering the biggest loss of the three major U.S. stock indexes.