Tokyo: Japan's Nikkei share average fell more than 3 percent on Tuesday, dragged down by losses in chip-related stocks after their US peers closed lower overnight. The Nikkei was down 3.59 percent at 62,599.14 as of 00:34 GMT, while the broader Topix was lower 2.44 percent at 3,966.87.

According to Emirates News Agency, the decline in chip stocks played a significant role in the downturn of Japan's Nikkei. The drop follows a similar pattern seen in the US market, where technology stocks, particularly in the semiconductor sector, faced significant losses.

The impact on the Nikkei highlights the sensitive nature of the market to global trends, especially in the technology sector, which plays a pivotal role in Japan's economy. Investors are closely monitoring these fluctuations, as the ongoing performance of chip stocks could influence broader market sentiments in the coming days.