Japan stocks edge lower as tech shares weigh, energy names gain
Japanese equities trade mixed on Monday, with the Nikkei extending its decline as chip-related stocks come under pressure after a weaker Wall Street session. The broader Topix still rises, as higher oil prices support energy-linked shares and offset broader weakness in heavyweight technology names.
Highlights
- Nikkei 225 drops 0.43% to 62,425.47, set for third straight daily decline and lowest close since July 30, driven by tech weakness.
- The Topix gains 0.48% to 3,984.74 with 166 gainers versus 59 decliners, as energy and commodity-related shares support broader market tone.
- Sumco falls 4.03%, Kokusai Electric declines 3.86%, and Screen Holdings drops 3.78% while Inpex rises 4.92%, JGC Holdings gains 4.56%, and Mitsubishi Corp advances 4.28% on firm oil prices.
Tech weakness offsets gains in energy stocks
As reported by Reuters, the Nikkei 225 falls 0.43% to 62,425.47 in morning trade, putting the benchmark on course for a third straight daily decline and its lowest close since July 30. The broader Topix gains 0.48% to 3,984.74.U.S. share indexes finish lower on Friday, although the S&P 500 energy sector rises 2.5% to a record. In Japan, market breadth remains broadly positive, with 166 gainers against 59 decliners on the Nikkei, but the index is pulled down by the heavy weighting of technology shares.
Monex Securities senior analyst Satoshi Saito says in a note that the Nikkei Stock Average is showing signs of short-term technical undervaluation. He says stocks may see phases of short-term rebound, but adds that several background concerns could keep any recovery sluggish for now.
Oil-linked shares support broader market tone
The biggest decliners on the Nikkei include Sumco, down 4.03% and heading for its lowest close since April 2026, Kokusai Electric, down 3.86%, and Screen Holdings, down 3.78%. Their losses underscore the pressure on chip-related counters after the weaker U.S. lead.At the same time, energy and commodity-linked stocks provide support. Inpex rises 4.92%, JGC Holdings gains 4.56%, and Mitsubishi Corp advances 4.28%, helped by firmer oil prices despite crude retreating from a six-month high on Monday after reports that Qatari mediators visit Tehran to seek de-escalation in coordination with the U.S., following intensified Houthi attacks on Saudi Arabia that had raised supply concerns.
Our earlier article on Micron Technology’s weakening chart setup highlighted how the stock broke below a rising wedge, with RSI and MACD rolling over and opening the door to further downside unless key resistance is reclaimed. We noted that this kind of technical deterioration can weigh on broader chip sentiment, especially when investors are already cautious about high-valuation tech exposure.
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