Nikkei ends flat as SoftBank tumbles, tech stocks shine
Japan's Nikkei 225 barely moved on Tuesday, closing up just 0.07% after a nearly 10% drop in SoftBank shares erased early gains.
Investors were spooked by worries over SoftBank's bets on OpenAI's ChatGPT facing tough competition from Google's Gemini.
The broader Topix Index also slipped by 0.21%.
Tech winners and energy shake-up
While SoftBank struggled, some tech names stood out—Advantest jumped over 4% and Tokyo Electron rose just over 3%, riding the wave of Wall Street optimism about possible US rate cuts.
Eisai also surged after a competitor's Alzheimer's drug failed in trials.
On the flip side, Tokyo Electric Power fell more than 6% even after getting the green light to partially restart a nuclear plant—a first since the 2011 Fukushima disaster.
Overall, it was a mixed day with only about half of Nikkei stocks in the green.