From Nasdaq:

Japan’s Nikkei share average drops 1% to 35,874.82, erasing gains for the week, due to chip-sector shares tumbling in line with U.S. peers. Profit-taking ahead of the weekend has exacerbated declines, with the benchmark index still sitting 3.6% above its 25-day moving average.
Technical indicators suggest the rally that took the Nikkei to a 34-year high on Tuesday was too fast. Despite this, the Nikkei’s 7.24% climb this year eclipses all its major rivals. Breaks below the psychological 36,000-level are attracting dip buyers, suggesting the bottom is quite firm.
Chip-industry heavyweights, including Advantest and Tokyo Electron, are among the biggest drags on the Nikkei, following a plunge of some 10% for Intel in after-hours trading. The Philadephia SE Semiconductor Index posted a 0.25% drop for Thursday, despite Wall Street’s Big Three indexes all gaining.
Next week sees a pickup in the Japanese earnings season, with close to 500 companies reporting before a peak in mid-February. In the U.S., technology giants like Apple, Microsoft, Amazon, Alphabet, and Meta Platforms will all announce financial results. So there is more news to come in the world’s stock market.



Read more: Nikkei slides, erasing gains for week, as chip shares slump