TOKYO: Japan’s Nikkei share average fell on Thursday, with SoftBank Group leading declines as it tracked a sharp fall in Oracle after the US tech giant missed Wall Street forecasts.
The Nikkei closed 0.9 percent lower at 50,148.82, after rising as much as 0.5 percent earlier in the session.
The broader Topix fell 0.94 percent to 3,357.24, after opening at a record high of 3,410.97.
SoftBank Group tanked 7.69 percent to track Oracle’s more than 11 percent decline in extended trading after the company’s sales and profit forecast missed Wall Street expectations.
Earlier this year, SoftBank Group, along with Oracle and OpenAI, announced plans to develop artificial intelligence data centers in the U.S to build out their ambitious Stargate project.
“The Nikkei opened higher to track overnight Wall Street’s rises, but the gains were erased by declines of SoftBank Group,” Tokai Tokyo Intelligence Laboratory market analyst Shuutarou Yasuda said.
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