Tokyo stocks fell sharply on the morning of the 14th, with AI-related shares weighing on the Nikkei average, while the TOPIX rebounded. Following remarks by the CEO of OpenAI, in which SoftBank Group has invested, SBG shares pushed stock prices lower.
The Nikkei average opened down ¥351.81 from the previous business day at ¥63,659.53, extending its decline, as selling led by AI-related stocks emerged first. It was reported that the US-based OpenAI CEO, in which SoftBank Group has invested, indicated an intention to forgo an IPO this year, sending SBG down more than 10% from the previous day.
Meanwhile, around 70% of Prime Market stocks rose, and the Tokyo Stock Price Index (TOPIX) rebounded. As the yen's appreciation paused, market participants said funds, particularly from short-term investors, appeared to be moving into areas outside AI.
While declines in AI-related stocks weighed on the market, movements in the contribution of individual stocks also offset the Nikkei average's overall decline, making the TOPIX's rebound notable. Concerns about delays in AI development are expected to continue.
The Nikkei average continued to widen its losses after the open. The market's direction may depend on future supply-and-demand conditions and the impact of news related to AI.