Nikkei 225 Drops Over 1% in Early Trade, SoftBank Falls Nearly 7%, Kioxia Drops Over 4%; South Korean Markets Closed
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On October 9, the Nikkei 225 Index declined 1.03% to 68,330.05 points, pressured by overnight weakness in U.S. tech stocks that pulled down major indices like the Nasdaq. Japanese tech equities experienced notable drops, led by SoftBank Group falling 6.77% and Kioxia declining 4.13%. Meanwhile, South Korea's markets remained closed for a holiday. Geopolitically, U.S. President Trump noted on October 8 that discussions with Iran were productive, assuring no military strikes would occur prior to the November 3 midterm elections.
TradingKey - On October 9, the Japanese stock market weakened in early trading, with the Nikkei 225 Index opening down 0.57% at 68,648.50 points, before expanding its decline to 1.03% at 68,330.05 points. Meanwhile, South Korea's stock market was closed for a holiday, with no trading conducted for the day.
Source: TradingView
Japanese tech stocks generally came under pressure, with SoftBank Group dropping 6.77% in early trading to 5,631 yen (approximately $36); Kioxia fell 4.13% to 17,160 yen.
Overnight U.S. stocks showed mixed performance as a pullback in tech stocks weighed on the Nasdaq and the S&P 500. At the close, the Dow Jones Industrial Average gained 0.10% to 51,231.64 points; the Nasdaq Composite Index fell 1.25% to 27,193.34 points; and the S&P 500 Index dropped 0.47% to 7,765.36 points. The weakness in U.S. tech stocks also weighed on the early performance of Japanese tech stocks.
On the geopolitical front, U.S. President Trump stated on social media on October 8 that the U.S. and Iran were holding "productive" discussions, adding that the U.S. would not launch an attack on Iran prior to the midterm elections on November 3.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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