There are 3 points to watch in the morning session. The focus will be on SoftBank Group's performance after selling subsides, the risk of the US AI data-center business falling into the red, and the resilience of the Nikkei 225.
In the Japanese stock market on the 11th, selling is expected to lead initially, followed by attempts to buy on dips while assessing the resilience of semiconductor and AI-related stocks. Developments in the US market and the impact of economic indicators are also expected to weigh on trading. Attention is expected to remain focused on the Nikkei 225's resilience around the ¥60,000 level.
In SoftBank Group's interim results for the fiscal year ending March 2027, revenue increased from the same period a year earlier, but net income fell into a loss of ¥768 billion. The main factor was a loss associated with changes to its equipment procurement plan for US AI data centers. Going forward, the focus will be on valuation trends for its investments and the monetization of its data-center business.
In the US market, the consumer price index rose 0.4% m/m in October, and expectations for further rate hikes increased against a backdrop of hawkish comments from Fed officials. Caution is therefore expected to persist toward semiconductor stocks. Accordingly, Nikkei futures may continue to trade around the ¥60,000 level.