Nikkei 225 drops 2.05% as oil prices surge and chip stocks slide
The Nikkei 225 fell 2.05% to 63,984.45 as investors reacted to rising energy costs and a slump in technology shares. Oil prices jumped more than 3% during the session, contributing to market volatility.
The Topix index also slipped 1.22% to finish at 4,016.34. A total of 147 decliners outweighed 78 advancers within the Nikkei 225.
Taiyo Yuden saw its shares drop 7.42% as part of a broader decline in chip-related equities. Sumitomo Electric Ind. fell 5.96%, while Sumco lost 5.88% in trading.
Toho rose 3.64% and Baycurrent gained 2.80% despite the general downward trend. Aeon recorded a gain of 2.14% during the period.
Bank of Japan Governor Kazuo Ueda noted that underlying inflation is “quite close” to the central bank’s 2% target. Yuta Okamoto, market analyst at Tokai Tokyo Intelligence Laboratory, said, "While chip-related stocks drag the index down, buying of value and defensive stocks should underpin the market."

































