{"id":74241,"date":"2026-11-06T00:38:23","date_gmt":"2026-11-06T04:38:23","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-under-pressure-japans-topix-plunges-6-as-ymtc-targets-chip-self-reliance\/74241\/"},"modified":"2026-11-06T00:38:23","modified_gmt":"2026-11-06T04:38:23","slug":"global-markets-under-pressure-japans-topix-plunges-6-as-ymtc-targets-chip-self-reliance","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-under-pressure-japans-topix-plunges-6-as-ymtc-targets-chip-self-reliance\/74241\/","title":{"rendered":"Global Markets Under Pressure: Japan\u2019s TOPIX Plunges 6% as YMTC Targets Chip Self-Reliance"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-under-pressure-japans-topix-plunges-6-as-ymtc-targets-chip-self-reliance\/74241\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-under-pressure-japans-topix-plunges-6-as-ymtc-targets-chip-self-reliance\/74241\/#Asian_Markets_Reel_from_Global_Tech_Sell-Off\" >Asian Markets Reel from Global Tech Sell-Off<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-under-pressure-japans-topix-plunges-6-as-ymtc-targets-chip-self-reliance\/74241\/#YMTC_Accelerates_Chinas_Chip_Independence\" >YMTC Accelerates China\u2019s Chip Independence<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-under-pressure-japans-topix-plunges-6-as-ymtc-targets-chip-self-reliance\/74241\/#Inflationary_Pressures_Hit_Southeast_Asia\" >Inflationary Pressures Hit Southeast Asia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-under-pressure-japans-topix-plunges-6-as-ymtc-targets-chip-self-reliance\/74241\/#North_Korean_Leadership_and_Regulatory_Shifts\" >North Korean Leadership and Regulatory Shifts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-under-pressure-japans-topix-plunges-6-as-ymtc-targets-chip-self-reliance\/74241\/#US_Market_Outlook_Remains_Cautious\" >US Market Outlook Remains Cautious<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Japan\u2019s benchmark TOPIX index plummeted over 6%<\/strong>, hitting its lowest level since April, as a massive sell-off in AI-related stocks and fears of tighter US regulations rattled Asian markets.<\/li>\n<li><strong>China\u2019s Yangtze Memory Technologies Co (YMTC)<\/strong> is targeting a <strong>70% domestic equipment sourcing rate<\/strong> for its new Wuhan factory, a significant escalation in its quest for technological self-reliance.<\/li>\n<li><strong>Thai inflation surged to 3.9% in October<\/strong>, surpassing the central bank&#39;s 1-3% target range for the first time in three years, driven by rising energy costs and food price pressures.<\/li>\n<li><strong>North Korea\u2019s Supreme People&#39;s Assembly<\/strong> dismissed a high-ranking vice chairman and revised laws governing <strong>precious metals and construction<\/strong>, signaling a shift in internal economic and personnel strategy.<\/li>\n<li><strong>US equity markets face a difficult path to recovery<\/strong>, with analysts warning that returning to October\u2019s peak may be hindered by persistent interest rate concerns and shifting political dynamics.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Asian_Markets_Reel_from_Global_Tech_Sell-Off\"><\/span>Asian Markets Reel from Global Tech Sell-Off<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Japanese equities experienced a brutal session on Friday as the <strong>Nikkei 225<\/strong> (<a href=\"\/stock\/N225\">^N225<\/a>) and the broader <strong>TOPIX<\/strong> (<a href=\"\/stock\/TPX\">^TPX<\/a>) both fell more than <strong>6%<\/strong>. The decline was triggered by a &quot;widespread sellout&quot; of artificial intelligence and semiconductor issues on Wall Street, which saw the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> (<a href=\"\/stock\/SPY\">SPY<\/a>) drop <strong>4.4%<\/strong> in the preceding session. Investors are increasingly wary of tighter AI regulations following the US midterm elections and the lingering impact of &quot;Liberation Day&quot; tariffs.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"YMTC_Accelerates_Chinas_Chip_Independence\"><\/span>YMTC Accelerates China\u2019s Chip Independence<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>China\u2019s leading flash memory manufacturer, Yangtze Memory Technologies Co (YMTC), is pushing for a breakthrough in domestic supply chains. Sources indicate the company aims to source <strong>60% to 70%<\/strong> of the tools for its fourth factory from Chinese suppliers like Naura Technology Group (<a href=\"\/stock\/002371\">002371<\/a>) and Advanced Micro-Fabrication Equipment (<a href=\"\/stock\/688012\">688012<\/a>). This marks a sharp increase from the <strong>50%<\/strong> domestic threshold cleared at its third facility, as the company attempts to bypass US export restrictions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Inflationary_Pressures_Hit_Southeast_Asia\"><\/span>Inflationary Pressures Hit Southeast Asia<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thailand\u2019s Consumer Price Index (CPI) jumped <strong>3.9% year-on-year in October<\/strong>, far exceeding the <strong>Bank of Thailand\u2019s<\/strong> upper target limit of <strong>3%<\/strong>. The acceleration was fueled by a combination of rising international <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> and domestic food shortages caused by recent flooding. While the central bank has maintained its benchmark interest rate at <strong>1.00%<\/strong>, the surprise inflation spike complicates the outlook for future monetary policy and domestic demand recovery.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"North_Korean_Leadership_and_Regulatory_Shifts\"><\/span>North Korean Leadership and Regulatory Shifts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a rare move, North Korea\u2019s Supreme People&#39;s Assembly (SPA) announced the dismissal of a parliamentary vice chairman\u2014likely <strong>Ri Son-gwon<\/strong>\u2014during a plenary meeting in Pyongyang. Alongside the personnel changes, the assembly adopted decrees to amend the <strong>Precious Metal Management Law<\/strong> and the <strong>Construction Law<\/strong>. Analysts suggest the construction revisions are tied to Kim Jong-un\u2019s &quot;Regional Development 20&#215;10&quot; policy, which aims to modernize industrial infrastructure across 20 counties annually.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"US_Market_Outlook_Remains_Cautious\"><\/span>US Market Outlook Remains Cautious<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite a brief attempt at a &quot;Monday bounce,&quot; US markets have struggled to maintain momentum. The <strong>Nasdaq-100<\/strong> (<a href=\"\/stock\/QQQ\">QQQ<\/a>) recently entered correction territory, closing more than <strong>10%<\/strong> below its October 6 record. Market strategists note that the equal-weight S&amp;P 500 has begun to outperform the cap-weighted version, suggesting that the &quot;Magnificent Seven&quot; tech giants may no longer be the primary engine for a market recovery to previous all-time highs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Japan\u2019s benchmark TOPIX index plummeted over 6%, hitting its lowest level since April, as a massive sell-off in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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