SoftBank Group plunged after OpenAI postponed its IPO, while Kobe Bussan rose sharply on the back of its three-month results. The Nikkei average extended its decline as concerns over delays in US AI development spread across the market.
The Nikkei Stock Average extended its decline, with selling in AI-related stocks leading the market, while non-AI sectors attracted buying. Core CPI for August exceeded market expectations, strengthening the outlook for US interest rates. With events such as the US FOMC meeting and the Bank of Japan's Monetary Policy Meeting scheduled for this week, uncertainty over the market's direction is increasing.
SoftBank Group's share price plunged after OpenAI's CEO indicated that the company intended to forgo an IPO in 2026. Meanwhile, Kobe Bussan's operating profit for the first three quarters of the fiscal year ending October 2026 fell short of market expectations, but its share price rose sharply on the back of its recent monthly trends and strong performance by its private-label products.
Fujitsu attracted buying amid expectations of a slowdown in the pace of AI development, while IT and software-related stocks such as NEC and Money Forward performed steadily. Although concerns over the threat posed by AI resurfaced at times, some observers say views of AI as a growth opportunity are gaining strength.