Japanese stocks fell in early trading, led lower by technology shares after a steep selloff among their US counterparts. Chipmaker Kioxia Holdings Corp. was also set to decline following a disappointing profit outlook.
The Nikkei 225 Stock Average was down 0.7% as of 9:08 a.m. in Tokyo. Chip-related companies Ibiden Co. and Sumco Corp. were among the biggest decliners on the technology-heavy index.
The broader Topix index dropped about 0.8%. The pressure followed a 7.2% decline in the Philadelphia Semiconductor Index in the US, where disappointing technology results triggered a broad selloff. Intel Corp. recorded its steepest drop in more than four decades.
Sources: Bloomberg Markets.