Early losses followed Wednesday’s sharp AI (artificial intelligence)-led gains, with investors also watching NTT Inc.’s quarterly results due later Thursday and developments in the Middle East.
Japanese stocks opened lower at 0014 GMT, giving back part of Wednesday’s sharp gain as electronics names retreated after an AI (artificial intelligence)-related rally. Tokyo Electron fell 4.7% and Murata Manufacturing dropped 4.2%, leading the declines and pulling the Nikkei Stock Average down 1.3% to 65464.44. The dollar traded at 157.68 yen, compared with Y157.70 at Wednesday’s Tokyo stock market close. Investors were also focused on corporate earnings, with NTT Inc. scheduled to announce quarterly results later Thursday, while developments in the Middle East remained in focus.