Japan stocks extend losses as tech shares remain under pressure

Japanese equities closed lower on Wednesday, extending losses from the previous session as weakness in global technology stocks weighed on investor sentiment. The Nikkei 225 Index fell 0.88% to 69,175, while the broader Topix Index declined 0.67% to 3,964.

The downturn followed a technology-led selloff on Wall Street, with investors becoming increasingly concerned about the scale of AI-related spending by major global technology companies.

Technology and electronics stocks were among the biggest losers. Fujikura fell 2.7%, Tokyo Electron dropped 4.2%, Furukawa Electric declined 2%, Disco Corp lost 3.8%, and Sumitomo Electric slipped 2.9%.

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