The Nikkei 225 extended its decline, falling ¥518 to ¥63,492. SoftBank Group's share price decline was cited as a factor behind the market's sharp drop, while Fujitsu rebounded sharply and other stocks besides SoftBank Group also moved.
The Tokyo market opened with the Nikkei 225 sharply lower, and at one point in the afternoon session it fell below ¥63,000. It subsequently trimmed its losses, ending down ¥518 at ¥63,492 and extending its decline. TOPIX rebounded, as did the TSE Growth Stock Index. With central bank meetings in Japan and the US scheduled for this week, the market is expected to remain directionless.
Among individual stocks, Fujitsu rebounded, rising 7.4% to ¥4,026. Meanwhile, SoftBank Group extended its decline sharply, falling 10.7% to ¥5,839. The decline was reportedly driven by caution following remarks by the CEO of OpenAI, in which SoftBank Group has invested. Oriental Land rose 0.9%, supported by fund inflows as a domestic-demand stock, while the announcement of a special shareholder benefit also supported its share price. Chubu Electric Power extended its decline to 3 consecutive sessions, closing at ¥2,885, as investors focused on reports that the company plans to withdraw its application for the review of the restart of the Hamaoka Nuclear Power Station.
JM Holdings rose 8.4% to ¥1,448, with an improvement in its consolidated earnings outlook and the announcement of a share buyback serving as buying catalysts. Even as the Nikkei 225 declined, some domestic-demand and related stocks attracted buying, resulting in a wide range of share price movements.
VIEWPOINT: While SoftBank Group's decline was cited as a factor weighing on the Nikkei 225, TOPIX remained in positive territory. With monetary policy meetings in Japan and the US approaching, attention is expected to focus on the central bank governors' press conferences and the outlook for future policy.