Friday, October 7, saw a decline in the value of Japanese technology equities as Sharp Corp. and other worries about the sector’s future were exacerbated following warnings from Advanced Micro Devices and Samsung Electronics.
In contrast, before borders reopen to tourists the following week, shares of travel-related companies such as airlines, rail operators, and grocers increased.
Worse-than-anticipated earnings projections from Advanced Micro Devices and Samsung Electronics have stoked worries about declining demand for electronic devices and the chips that power them.
Sharp, a manufacturer of screens and sensors, experienced the largest decline among the Nikkei equities, down 4. 24%. Tokyo Electron, a manufacturer of machinery for producing chips, dropped 0. 79%.
After four days of advances, the Nikkei average dropped 0. 71%.
When the markets began, the index dipped below the 7,000-point threshold, but it gradually rose to conclude at 27116.11, up 3.4% for the week.
Investors exercised caution ahead of the release of the US non-farm payrolls data later today, while markets in Japan will be closed on Monday owing to a national holiday. This resulted in low trading volumes.
Japan’s technology equities decline as corporate profits decline.
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