Japanese shares fell amid indications of Democratic gains in Tuesday’s US midterm elections, a result some strategists had said could weigh on AI stocks.
The tech-heavy Nikkei 225 dropped as much as 4.8%. Shares of memory maker Kioxia Holdings and MLCC maker Taiyo Yuden each slumped more than 13%, placing them among the index’s worst performers. The broader Topix fell as much as 3.5%.
Sources: Bloomberg Markets.