Japan shares fall amid expected US curbs on chip exports

Japan’s Nikkei share average fell on Tuesday as investors sold semiconductor stocks after the US government said it would impose additional restrictions on exports of chips and artificial intelligence technology.

The Japanese market was also hit by a sell-off in global stocks after strong US jobs data on Friday prompted investors to consider the possibility of no US interest rate cuts this year.

However, Bank of Japan Deputy Governor Ryozo Himeno left the door open to a rate hike after the bank’s next policy meeting on Jan. 24.

The Nikkei share average closed down 1.83 percent at 38,474.30. It had fallen 2.26 percent to 38,305.91 during the session, its lowest since Dec. 2.