Japanese stocks decline for fourth straight session as technology shares slump

Japan?s Nikkei 225 Index fell 1.79% to close at 61,078 on Thursday, marking its fourth consecutive session of losses. The decline was mainly driven by weakness in technology stocks amid growing concerns over artificial intelligence (AI) development and the possibility of tighter regulations on data-centre investments following Democratic victories in the US midterm elections.

Technology stocks faced heavy selling pressure, with Kioxia Holdings falling 13.1%, Advantest declining 14.7%, and Ibiden Co plunging 16.3%. Meanwhile, investors shifted towards consumer and financial stocks, helping Fast Retailing gain 4.7%, Nintendo rise 6.3%, and Mitsubishi UFJ advance 2.7%.

In corporate news, Toyota Motor shares jumped 16.7% after the automaker raised its full-year earnings forecast. The improved outlook was supported by stronger quarterly operating profit, a weaker yen, and continued cost-cutting efforts.

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