Japan’s Nikkei fell, recording its worst daily performance in 30 months

Japan’s Nikkei fell as chip-related stocks fell and tension in the Middle East

According to Reuters, Japan’s Nikkei index recorded its worst daily performance in more than two and a half years on Friday, with chip-related stocks incurring losses, following the path of Taiwanese TSMC, while unrest in the Middle East undermined appetite for risk.

The Nikkei fell 2.66% to close at 37,068.35 points, its largest daily decline since September 2022, and 206 stocks out of 225 declined.

The index fell to 36,733.06 points earlier in the session, the lowest level since February 8th.

TSMC’s stock, listed in Taipei, fell by about 7%, while Tokyo Electron’s stock for chip manufacturing equipment fell 8.74%, and Advantest’s stock, which specializes in chip testing equipment, fell 4.38%.

The broader Topix index fell 1.91% to close at 2,626.32 points.