Nikkei 225 Index slips as Kioxia stock suffers a harsh reversal

The Nikkei 225 fell for a second straight session as investors sold technology and AI-linked names amid renewed fears of a bubble unwind. The index dropped from a weekly high of 72,781 to around 68,572-68,863, leaving it about 5.5% below its recent peak. Kioxia was a key drag, falling 18% from its year high as memory-demand concerns spread across the sector, echoing weakness in Micron, Samsung, and SK Hynix. The article also points to yen weakness as a second pressure point: USD/JPY climbed to 161.55, raising expectations that the Bank of Japan may be forced to consider further rate hikes or intervention. Technically, the Nikkei remains above its 50-day moving average, but near-term profit-taking and a horizontal PPO pattern suggest continued downside pressure, with 68,800 highlighted as an important level.