The Nikkei closed lower on Friday (November 7), down around 1.4% to 50,186.27 as the yen strengthened and global technology stocks continued to be under pressure. Semiconductor-related stocks led the decline: Renesas -3.9%, Advantest -6.1%, while SoftBank Group slumped 7.3%. In the forex market, USD/JPY weakened to around 152.95 from 153.87, weighing on the outlook for Japanese exporters and adding to sentiment.
From a fundamental perspective, global risk-off due to concerns about AI valuations and signs of a weakening US job market have kept investors on the defensive. Domestic focus is on Prime Minister Sanae Takaichi's economic policies and the release of company results—including Mitsubishi Heavy Industries—to gauge the future direction of corporate earnings. The combination of a strong yen and pressure on the chip sector maintains a cautious bias ahead of the next data and policy guidance. (az)
Source: Newsmaker.id
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