TOKYO, Oct. 23 (Xinhua) -- Tokyo stocks fell Friday as concerns over the profitability of massive investments in artificial intelligence and semiconductors weighed on investor sentiment, although dip-buying helped the market pare earlier losses.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 214.68 points, or 0.34 percent, from Thursday at 62,693.16.
The broader Topix index, meanwhile, finished 31.69 points, or 0.79 percent, lower at 3,965.81.
AI- and chip-related shares remained under pressure as investors questioned whether heavy spending on AI infrastructure would generate sufficient returns. The Nikkei briefly fell below 62,000, its lowest level since late July.
Both the Nikkei and TOPIX subsequently pared their losses in the afternoon amid dip-buying. Gains in some defensive stocks, including Fast Retailing, a heavyweight in the Nikkei, as well as real estate shares, also helped limit the declines. ■