Tokyo, June 26 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average plunged to slip below 70,000 Friday morning as artificial intelligence-linked and other high technology names succumbed to profit-taking after their hefty gains the previous day. The index of 225 major issues on the Tokyo Stock Exchange’s top-tier Prime section ended the morning session at 69,602.72, down 2,763.62 points, or 3.82 pct, from Thursday. Tech investor SoftBank Group, which has an equity stake in U.S. AI giant OpenAI, was dumped due to news that the ChatGPT developer will postpone its initial public offering. Chip test device maker Advantest and memory chip maker Kioxia Holdings also met with heavy selling. Tech issues jumped the previous day to push the Nikkei to a record closing high. “The overnight declines of Apple and other information technology-related stocks (on the U.S. market) had a negative impact on Japanese high-tech stocks,” an official at a Japanese asset management firm said. END [Copyright The Jiji Press, Ltd.]
Nikkei Average Dips below 70,000 in Morning
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