Nikkei closes morning session down 1.56% on tech profit-taking
Price ActionGeopoliticsDigital Finance
The Nikkei index on the Tokyo stock market closed the morning session down 1.56%, pressured by profit-taking in large-cap technology stocks including semiconductors and artificial intelligence, after the same sector declined in the US market overnight. The index ended the morning session at 65,266.67 points, down 1,033.77 points. However, the market also drew support from hopes for a renewed agreement to open the Strait of Hormuz, after Iran disclosed it is in the final stages of drafting a deal with Oman, and US President Donald Trump indicated an announcement could come within this week. In addition, the yen's slowing appreciation following currency market intervention by Japanese and US authorities helped auto stocks rebound.
