Tokyo stock exchanges opened on Tuesday with a sharp decline in quotations, in particular after the fall of the Nasdaq index in the United States, which caused a wave of sales of shares of technology companies around the world. This is reported by Kyodo News.
In the first 15 minutes of trading, the Nikkei Stock Average, one of Japan’s main stock indices, fell by 598.89 points, or 1.51%, compared to the previous day. Another important index, the TOPIX, was down 20.37 points, a 0.74% decline.
The Japanese market suffered the most as a result of a decline in technology stocks, particularly those in the precision instruments, communications, non-ferrous metals and information technology sectors. This decline in the stock markets also affected the exchange rates of the Japanese national currency, the yen, against the US dollar and the euro.
At the opening bell, the yen slightly weakened against the dollar, falling to ¥154.92 per dollar (compared to ¥154.45 in New York and ¥155.87 at the close on Monday). At the same time, the yen strengthened against the euro, reaching ¥161.66 per euro.
The reasons for the fall in the Nasdaq index are still unclear, but the US media attribute the stock crash to the success of the Chinese startup DeepSeek, which has developed a new artificial intelligence model called DeepSeek-V3. According to the report, the development and training of this model cost less than $6 million, which is significantly cheaper than similar technologies from American tech giants.
