The Nikkei average index closed down 453 points or 0.9%, SoftBank fell over 7%

Japanese stocks fell today (11th), as investors took the opportunity to sell high following the Federal Reserve's interest rate cut. Oracle's quarterly revenue fell short of expectations, leading to a decline in its after-hours stock price, while SoftBank's stock price drop weighed on the market. The Nikkei average opened up 215 points, initially rising 273 points to a high of 50,875 points before turning downward, falling as much as 676 points in the afternoon, and ultimately closing down 453 points or 0.9% at 50,148 points.

In the AI concept and semiconductor stocks, SoftBank (9984.JP) fell 7.7%, while Renesas Electronics (6920.JP) and Tokyo Electron (8035.JP) each dropped 1.6%. Memory chip stocks Kioxia (285A.JP) and Disk (6146.JP) rose 1.5% and 1.6%, respectively, while NVIDIA supplier Advantest (6857.JP) increased by 4.4%. Wire stocks Furukawa Electric (5801.JP) and Sumitomo Electric (5802.JP) each fell 3.8%, and Fujikura (5803.JP) dropped 1.3%.

Robot stocks Fanuc (6954.JP) and Yaskawa Electric (6506.JP) fell 2.2% and 2.3%, respectively. Heavy industry stocks Mitsubishi Heavy Industries (7011.JP) and Kawasaki Heavy Industries (7012.JP) dropped 4.6% and 4.1%, while IHI (7013.JP) fell 3.3%. JX Metals (5016.JP) decreased by 4.7%, and electric power stock Tokyo Electric Power Company (9501.JP) fell 3.3%.

In other stocks, Muji (7453.JP) and Panasonic (6752.JP) rose 1.8% and 4.5%, respectively, while Toyota (7203.JP) fell 0.2%. Mitsubishi UFJ Financial Group (8306.JP) and Fast Retailing (9983.JP) dropped 1.2% and 0.9%, respectively. Sony (6758.JP), Hitachi (6501.JP), Nintendo (7974.JP), Rakuten Group (4755.JP), and cartoon IP parent company Sanrio (8136.JP) fell between 1.6% and 2.5%.

The latest exchange rate for the US dollar against the Japanese yen is 155.96