Nikkei 225 Index Plunges 4.0%, Hitting Lowest Level Since Early June

Deep News07-17

The Nikkei 225 index closed sharply lower, dropping 4.0% to finish at 64,141.12 points, marking its lowest closing level since June 8th.

Matt Simpson, a senior market analyst at StoneX, commented, "The negative sentiment from Wall Street's tech sector, led lower by chip stocks on Thursday, is now spilling over into Asia."

Among the worst performers on Japan's benchmark index were Kioxia Holdings, which fell 16.1%, SUMCO Corp, down 15.2%, and Screen Holdings, which declined 12.0%. Bucking the downtrend, Seven & i Holdings Co., Ltd. shares rose 3.6%. The company stated it is in talks regarding a potential investment in Zabka, Poland's largest convenience store chain, but added that no decisions have been made yet.

The U.S. dollar traded at 162.37 yen, compared to around 162.14 yen at the close in Tokyo on Thursday.

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