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Tokyo stocks end mixed, tech falls as China AI startup emerges
MAINICHI
| Januari 27, 2025
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TOKYO (Kyodo) -- Tokyo stocks ended mixed Monday as banks lifted on hopes for improved profits, while technology issues dropped on fears that U.S. dominance in artificial intelligence could be threatened by the emergence of a Chinese startup.
The 225-issue Nikkei Stock Average ended down 366.18 points, or 0.92 percent, from Friday at 39,565.80. The broader Topix index finished 7.03 points, or 0.26 percent, higher at 2,758.07.
On the top-tier Prime Market, gainers were led by rubber product and real estate issues, while top decliners were nonferrous metal and electric appliance shares.
The U.S. dollar briefly climbed to the lower 156 yen level in Tokyo as investors sold the yen, seen as a safe-haven asset, after U.S. President Donald Trump abandoned a threat to impose hefty tariffs on imports from Colombia, dealers said.
At 5 p.m., the dollar fetched 155.86-89 yen compared with 155.97-156.07 yen in New York and 155.37-39 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.0456-0458 and 162.98-163.02 yen against $1.0483-0493 and 163.64-74 yen in New York and $1.0460-0462 and 162.52-56 yen in Tokyo late Friday afternoon.
The yield on the benchmark 10-year Japanese government bond edged down 0.015 percentage point from Friday's close to 1.215 percent as traders bought the relatively safe-haven debt on Monday, tracking the decline in the Nikkei benchmark index.
Equities were supported by buying of bank shares on prospects of higher long-term interest rates after the Bank of Japan raised its policy interest rate on Friday.
But stocks were pressured by plunges in Nikkei heavyweight semiconductor-related shares such as Tokyo Electron and Advantest as U.S. Nasdaq index futures fell after Chinese startup DeepSeek announced a high-precision AI model, brokers said.
Many Japanese tech firms have ties with their U.S. counterparts.
"Concerns grew among investors that the competitive advantage of U.S. firms like Nvidia and OpenAI's ChatGPT would be threatened," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co.
komentar
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