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Japan's Nikkei slumps as tech shares track Wall Street declines

Reuters11-21

Japan's Nikkei slumps as tech shares track Wall Street declines

By Rocky Swift

TOKYO, Nov 21 (Reuters) - Japan's Nikkei share average slid sharply on Friday, dragged down by technology-related stocks, as fresh valuation concerns drove U.S. stocks lower overnight.

The Nikkei 225 Index .N225 slumped 2.3% to 48,678.11 in early trading, trimming gains from the previous session. The broader Topix .TOPX was down 0.6%.

Overnight, Wall Street stocks slid in a sharp reversal from an early rally, as optimism faded over quarterly results from artificial intelligence bellwether Nvidia NVDA.O.

There were 131 advancers on the Nikkei index against 93 decliners.

The largest losers in the index were heavyweights in the AI sector, including Advantest 6857.T, which declined 9.3%, followed by SoftBank Group 9984.T, which slumped more than 10%.

(Reporting by Rocky Swift; Editing by Rashmi Aich)

((rocky.swift@thomsonreuters.com;))

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