Tokyo, July 2 (Jiji Press)--Japan's benchmark Nikkei 225 stock average briefly plunged over 1,700 points on Thursday morning. High-tech stocks came under selling pressure after semiconductor-related shares fell in the U.S. market overnight amid concerns that they had become overvalued. At 9:44 a.m., the index of 225 selected issues listed on the Tokyo Stock Exchange's Prime section stood at 68,676.26, down 1,798.7 points, or 2.55 pct, from Wednesday. The Tokyo market was weighed down by declines in heavyweight Nikkei components, including chip testing equipment maker Advantest and memory chip maker Kioxia Holdings. By contrast, about 80 pct of the 225 issues advanced. A major brokerage house official said as the Bank of Japan's tankan survey, released Wednesday, and U.S. employment-related data have shown that both the Japanese and U.S. economies remain resilient, stocks other than chip-related issues are generally firm. END [Copyright The Jiji Press, Ltd.]
Nikkei Briefly Tumbles over 1,700 Points in Morning
Tokyo, July 2 (Jiji Press)--Japan's benchmark Nikkei 225 stock average briefly plunged over 1,700 points on Thursday morning. High-tech stocks came under selling pressure after semiconductor-related shares fell in the U.S. market overnight amid concerns that they had become
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