Japanese stocks are lower in early trade following Wednesday’s sharp gains led by artificial intelligence‑related shares. Electronics stocks are leading the declines, with Tokyo Electron down 4.7% and Murata Manufacturing 4.2% lower.

The dollar is at 157.68 yen, compared with 157.70 yen as of Wednesday’s Tokyo stock market close. Investors are closely watching corporate earnings, with NTT scheduled to announce quarterly results later Thursday.

Developments in the Middle East are also in focus. The Nikkei Stock Average is down 1.3% at 65464.44. ([email protected]; @kosakunarioka)