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30.01.202606:55:33UTC+00Japan’s Nikkei Falls as Tech Stocks Weigh

On Friday, the Nikkei 225 Index dipped by 0.1%, closing at 53,323, thereby ending a three-day streak of gains. This decline was largely influenced by the downturn in technology stocks, driven by revived concerns regarding the long-term viability of significant investments in artificial intelligence. Additionally, the index tracked the decline in US futures, spurred by speculation around the potential nomination of Kevin Warsh, a former Federal Reserve Governor known for his hawkish views, as the next Federal Reserve chair by President Donald Trump.

Domestically, the market was marked by a cautious atmosphere leading up to the lower house's upcoming snap election on February 8th. In the technology sector, companies like Advantest, Lasertec, and Keyence experienced notable declines of 5%, 2.9%, and 4%, respectively. On the other hand, Kioxia Holdings, a data storage company, saw its shares rise by 11%, reaching a new record high ahead of its forthcoming earnings report scheduled for February 12th. Despite the weekly loss, the Nikkei 225 ended the month with a gain of nearly 6%.

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