Japan Economic News ·
SoftBank Group Plunges on OpenAI IPO Delay Report; Nikkei Average Falls 3,005 Points
On June 26, the Tokyo market saw SoftBank Group plunge over 12% following a report that OpenAI is considering delaying its IPO until 2027. The Nikkei average sank 3,005 points from the previous day to 69,360 yen, marking the third-largest drop on record. After hitting an all-time high the day before, AI and semiconductor stocks collapsed across the board. Meanwhile, the yen remained elevated in the upper 161 yen range against the dollar, with growing caution over possible intervention by the government and Bank of Japan as the 162 yen level approaches.
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SoftBank Group Plunges on OpenAI IPO Delay Speculation; Nikkei Falls 3,005 Points The New York Times reported that OpenAI is considering delaying its IPO, causing SoftBank Group, a major investor, to fall 12.53%. The Nikkei average closed at 69,360 yen, down 3,005 points from the previous day, marking the third-largest drop on record. AI and semiconductor-related stocks such as Advantest and Kioxia were also sold off across the board, with market volatility expanding sharply. 12345
Yen Stalls in Upper 161 Yen Range, Intervention Caution Intensifies Near 162 Yen On June 26, the dollar-yen pair ended trading at 161.74 yen as dollar buying eased after the U.S. PCE indicator met expectations. It briefly approached 161.95 yen, a roughly 40-year high, but upside was capped by caution over possible intervention by the government and Bank of Japan. Tokyo CPI rose 1.6% year-on-year, accelerating for the first time in eight months, providing support for the yen. 678
Japan Economic News
Compact morning updates on key Japanese economic news, including Nikkei, exchange rates, and monetary policy.