Japan's Nikkei falls as AI doubts, bond stress weigh
EWJ•Japan's Nikkei 225 fell 1.06% to 68,308.92 in early trading as doubts about the AI sector and stress in global bond markets weighed on sentiment. The Topix slipped 0.24% to 4,081.62.
1. Japanese stocks decline
The Nikkei 225 fell 1.06% to 68,308.92 in early trading on Friday, poised for a slight weekly decline, while the Topix slipped 0.24% to 4,081.62. SoftBank Group, a major investor in OpenAI, was the index's biggest loser, falling 5.40%.
2. Market pressures
The article cited doubts about the AI sector, elevated euro zone borrowing costs and higher oil prices as weighing on sentiment. Japan's August household spending fell 3.1% year-on-year, while the Bank of Japan noted cost-driven price increases spreading to consumer goods and a meaningful chance of further rate hikes this year.
