The Nikkei Average fell for a second consecutive trading day on 14 April in Tokyo, closing ¥518.35, or 0.81%, lower than the previous trading day at 63,492.99 yen. Selling spread across AI- and semiconductor-related stocks following reports that OpenAI would postpone its IPO until next year. Rising crude oil prices also weighed on market sentiment, although the decline narrowed in the afternoon.
The Nikkei Stock Average fell for a second consecutive trading day in Tokyo on 14 April, closing ¥518.35, or 0.81%, lower than the previous weekend at 63,492.99 yen. Following reports that US-based OpenAI would not proceed with an IPO this year, selling concentrated in AI- and semiconductor-related stocks, including SoftBank Group and Advantest.
The main source of the Nikkei's decline was morning trading, when selling began, particularly in stocks that had invested in the company, sending the index down as far as 62,726.18 yen early in the session. Bargain hunting then emerged, narrowing the decline toward the end of the morning session.
The decline narrowed again in the afternoon, with the index recovering to the low ¥500 range by the close. The TOPIX ended up 0.74% at 4058.21, with gains particularly notable across domestic-demand-related stocks.
By sector, domestic-demand-related stocks remained firm, while AI- and semiconductor-related stocks weighed on the market. Many market participants said they wanted to assess the next market move, also taking into account the impact of the earnings announcement season.
Crude oil prices continued to rise amid heightened tensions in the Middle East, cooling investor sentiment on concerns that persistently high energy prices would affect corporate earnings and consumption.