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Japan Stocks Slide 841 Yen as AI Concerns and Oil Prices Hit Tokyo Market

Japan's Nikkei 225 closed at 64,075.42 on October 20, down 841.28 points (1.30%), as selling hit semiconductor and AI-related shares and rising oil prices fed inflation worries. The TOPIX fell 58.27 points (1.43%) to 4,009.21 on about 2.15 billion shares traded, and the decline spread to transport and communications stocks even after U.S. chip and AI shares rebounded overnight. Resonac fell 10.80%, Fujikura 6.47% and SUMCO 6.30%, while Toho, Terumo and Olympus gained. Brent crude around $110 a barrel added cost pressure on Japan, an economy heavily dependent on imported energy. The yen moved toward 158.1 per dollar after a strong 20-year government bond auction pushed its yield down about six basis points to 3.71%, as investors looked ahead to a Bank of Japan policy meeting on October 30.

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