By Rocky Swift
TOKYO, Sept 14 – Japan’s Nikkei share gauge fell sharply on Monday, dragged down by technology shares after leaders of major AI companies called for a slowdown in development.
The benchmark Nikkei 225 slid 1.61% to 62,979.17 in early trading. The broader Topix gained 0.40% to 4,044.29.
OpenAI Chief Executive Sam Altman said his company will not go public in 2026, citing safety concerns over quickly advancing AI and its potential risks to humanity. On Saturday, Anthropic CEO Dario Amodei urged AI companies to take a more deliberate approach to development.
Markets are also focused on central bank meetings this week, with expectations high for rate hikes by both the Federal Reserve and Bank of Japan as inflation pressures persist. The Middle East crisis also weighed on sentiment, after Oman said a meeting between Iran and Gulf states on managing traffic through the Strait of Hormuz was postponed following new Houthi strikes on Saudi Arabia and reports of an attack on a vessel.
“Selling pressure is likely to hit AI and semiconductor-related stocks in Tokyo following a series of weekend comments calling for a slowdown in the pace of AI development,” Takayuki Miyajima, senior economist at Sony Financial Group, said in a note. “Additionally, uncertainty surrounding the situation in the Middle East continues to weigh on sentiment.”
Breadth on the Nikkei was largely positive, with 160 advancers against 64 decliners, but the heavy weighting of tech companies dragged the gauge lower.
The biggest losers were SoftBank Group, down 11.73%, followed by Resonac Holdings, down 8.95%, and Taiyo Yuden, down 7.85%.
The index’s largest percentage gainers were NEC, up 6.26%, followed by Nomura Research Institute, up 6.08%, and Recruit Holdings, which gained 5.87%.
This article was generated from an automated news agency feed without modifications to text.
