Japanese stocks tumble on tech weakness

Japanese equities extended their losing streak on Monday, with the Nikkei 225 sliding 3.85% to 64,024 and the Topix Index down 2.45% to 3,852. The drop followed Wall Streets sharp selloff in semiconductor and tech names, as stronger-than-expected US jobs data fueled expectations of further Fed rate hikes, pushing Treasury yields higher and weighing on global equities.

Geopolitical tensions added to the pressure after Iran missile strikes toward Israel raised concerns about a fragile ceasefire in Lebanon. Japanese chipmakers and tech firms bore the brunt of the decline, with Kioxia Holdings down 8%, Murata Manufacturing off 10.2%, SoftBank Group losing 6.1%, Advantest falling 5.7%, and Tokyo Electron dropping 7.5%.

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