Nikkei Average Falls Further on Chip Selling
Tokyo, Aug. 20 (Jiji Press)--Japan's benchmark Nikkei 225 stock average fell further on Wednesday due to selling of semiconductor-related names following the retreat of U.S. high-tech issues overnight.
The Nikkei index slid 657.74 points, or 1.51 pct, to end at 42,888.55, down for the second straight session. The TOPIX sagged 17.72 points, or 0.57 pct, to end at 3,098.91.
In the U.S. market Tuesday, high-tech issues sank amid speculation among investors who wish to use a speech by U.S. Federal Reserve Chair Jerome Powell at an economic symposium in Jackson Hole, starting Thursday, to gauge future monetary policy.
In the Tokyo market, investors sold stocks related to semiconductors and artificial intelligence, which had led the recent advance, to lock in profits.
In particular, technology investor SoftBank Group and chip test device manufacturer Advantest, both Nikkei components, met with heavy selling. The Nikkei briefly lost over 800 points as a result.
(2025/08/20-16:37)
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