Wall Street sell-off and concerns over oil prices drag Japanese stock market down for two consecutive days

智通财经2026/10/08 00:56

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Affected by the Wall Street sell-off, the Japanese stock market fell for the second consecutive trading day. Persistently high oil prices have reignited inflation concerns and dragged down the stock market, which was nearing historical highs. Cyclical stocks, including trading companies, banks, and materials stocks, led the decline. According to Takashi Ito, Senior Strategist at Nomura Securities, AI and semiconductor stocks, as well as cyclical sectors such as steel manufacturers and nonferrous metal producers, may continue to face sell-off pressure. However, he noted that the solid earnings outlook for domestic companies should limit the extent of the downturn and make a dramatic drop like Wednesday’s unlikely.

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