日本股市下跌，因债市担忧令AI风险偏好降温

The Nikkei 225 index fell for a second consecutive day, with chip-related stocks under pressure, while surging bond yields fueled market concerns, dampening investors' risk appetite for AI trades. At the market open, the Nikkei 225 dropped over 3%, with declines led by memory chip maker Kioxia Holdings and fiber optic cable maker Furukawa Electric. The Topix index fell as much as 2.8%, dragged down by electronics and banking stocks.

A chief strategist at Daiwa Asset Management said: "Rising yields will push up borrowing costs for hyperscale cloud service providers, raising questions about the outlook for capital expenditure and potentially affecting infrastructure companies that have benefited from the AI investment boom." On Tuesday, Japan's 10-year government bond yield rose to its highest level since 1996, amid market speculation that the Bank of Japan may raise interest rates next month. Meanwhile, the 10-year U.S. Treasury yield is also near its highest level since early 2025. (Jin Shi)