07.08.202600:46:20UTC+00Japanese Shares Slip on Tech Weakness

The Nikkei 225 Index declined 0.5% to around 65,400 on Friday, extending the previous session’s losses as technology shares fell for a second straight day amid ongoing concerns about the artificial intelligence trade. Sentiment in the broader market was further pressured by a rebound in oil prices following renewed tensions in the Strait of Hormuz, which rekindled uncertainty over efforts to fully reopen the key shipping route.

On the domestic front, data showed that Japan’s household spending dropped 3.3% in June, contrary to expectations for a 1% increase, underscoring persistent weakness in consumer demand.

In corporate news, SoftBank Group slid 6% despite posting stronger-than-expected earnings, as investors remained wary of the company’s aggressive AI investment strategy. By contrast, Nintendo rose 4% after delivering solid results, supported by U.S. tariff refunds and robust sales of two first-party titles for its flagship Switch 2 console.