Nikkei Sinks 3.1% for Second Day as Surging Bond Yields Hit AI Stocks
Updated
Updated · Bloomberg · Aug 18
Nikkei Sinks 3.1% for Second Day as Surging Bond Yields Hit AI Stocks
3 articles · Updated · Bloomberg · Aug 18
Summary
Japan’s Nikkei Stock Average fell as much as 3.1% in early Tokyo trading, extending losses into a second session as chip-linked shares led the retreat.
Surging bond yields weakened risk appetite for the AI trade, dragging down names tied to semiconductors and related hardware.
Kioxia Holdings and Furukawa Electric were among the biggest decliners, while the broader Topix dropped as much as 2.8% under pressure from electronics and banks.
The latest selloff follows Monday’s 1,759-yen Nikkei plunge, when geopolitical risks, weaker U.S. stocks and profit-taking had already knocked AI shares lower.