"Asian Stocks" Nikkei plunges 1,100 points in half a day, losing the 50,000-point mark. SoftBank drops over 8%, while Nissan rises 4% against the trend

AASTOCKS
2025.11.07 03:10

Japanese stocks fell today (7th) in the morning session, as the number of layoffs in the U.S. last month reached the highest level for the same month since 2003, prompting a decline in U.S. stocks the previous night (6th). Short-term funds sold off Japanese stock futures, pushing the market down. The Nikkei index opened down 359 points, with the initial decline narrowing to 240 points at 50,642 points, before the drop expanded, closing down 1,100 points or 2.2% at 49,783 points.

AI concept and semiconductor stocks generally fell, with Advantest (6857.JP) and SoftBank (9984.JP) down 7.1% and 8.6%, respectively. Discus (6146.JP) fell 4.5%, while Leitech (6920.JP) and Tokyo Electron (8035.JP) dropped 2.1% and 2.3%. Wire stocks such as Furukawa Electric (5801.JP), Sumitomo Electric (5802.JP), and Fujikura (5803.JP) fell between 5.1% and 5.9%. Electric power stock Tokyo Electric Power (9501.JP) decreased by 0.8%. Heavy industry stocks Mitsubishi Heavy Industries (7011.JP) fell 3.3%, while Kawasaki Heavy Industries (7012.JP) and IHI (7013.JP) dropped 5% and 6.2%, respectively. JX Metals (5016.JP) fell 4.1%.

In other stocks, Panasonic (6752.JP) and Rakuten Group (4755.JP) fell 0.4% and 1.1%, respectively, while Hitachi (6501.JP), Toyota (7203.JP), Nintendo (7974.JP), and Mitsubishi UFJ Financial (8306.JP) dropped between 1.5% and 1.9%. Sony (6758.JP) fell 2.6%, and Sanrio (8136.JP), the parent company of the cartoon IP, continued to drop 4.7%. Fast Retailing (9983.JP) rose 0.6%. Human resources company Recruit Holdings (6098.JP) reported quarterly operating profit exceeding expectations and raised its full-year performance forecast, with its stock price rising 16.6%.

Nissan (7201.JP) rose over 4% in the half-day session, with revenue for the second fiscal quarter ending in September reaching 2.87 trillion yen, a year-on-year decline of 3.8%. Operating profit was 51.5 billion yen, a year-on-year increase of 61.4%, better than the market's expectation of an operating loss of 70.9 billion yen.

The yen slightly fell by less than 0.1% during the Asian session, with the latest dollar to yen exchange rate at 153.12

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