TOKYO: Japan’s Nikkei share average fell more than 3% on Wednesday, with chip-related stocks leading the declines, as the market tracked Wall Street’s biggest drop since early August.
By 0110 GMT, the Nikkei was down 3.2% at 37,428.34.
The broader Topix was down 2.86% to 2,655.02.
US stocks slumped on Tuesday, at the start of one of the market’s historically worst months, ahead of data likely to influence how much the Federal Reserve will lower interest rates.
Japan’s Nikkei gains on weaker yen; higher bond yields lift banks
The benchmark S&P 500 index, Nasdaq Composite Index and the Dow Jones Industrial Average recorded their biggest daily percentage declines since early August.
In Japan, chip-related giant Tokyo Electron fell 6%, tracking Nvidia’s 10% drop. Peer Advantest fell 6%. Technology investor SoftBank Group lost 5.6%.
Source: Brecorder
