FINWIRES · TerminalLIVE
FINWIRES

Japanese Stocks Fall as Chip Shares Slide on AI Investments Concerns, Oil Gains

By

Japanese stocks fell to close in the red, extending the sell-off in chip shares amid deepening investor concerns over returns on high levels of artificial intelligence spending ahead of earnings from US big tech firms.

The benchmark Nikkei 225 closed down 930.73 points, or 1.49%, at 61,434.19.

Oil prices gained after Iran resumed attacks on the US bases in the Middle East, ending a temporary truce and heightening concerns over future escalation, even as the US said it intercepted the attacks launched from Iran.

On the corporate side, Mitsubishi Heavy Industries (TYO:7011) and ispace (TYO:9348) signed a contract for the launch of the new lander Ultra for a lunar landing mission scheduled for 2028, according to a Wednesday release.

Also, Komatsu (TYO:6301) posted a 5.4% year-over-year increase in profit attributable to owners of the parent to 96.2 billion yen for the three months ended June 30 from 91.2 billion yen.

Related Articles

Asia

Jinhui Signs Sale-and-Leaseback Deals for Two Bulk Carriers

Jinhui (HKG:0137) has entered into sale-and-leaseback arrangements for two bulk carriers under construction, according to a Tuesday Hong Kong bourse filing.The company will sell each vessel to a unit of ICBC Financial Leasing for up to $18 million and lease them back under separate five-year bareboat charter agreements.The vessels, each with a deadweight of about 64,500 metric tonnes, are expected to be delivered in February and March 2028.

HKG:0137
Asia

BOE Technology Controlling Shareholder to Boost Ownership

BOE Technology (SHE:000725) said its controlling shareholder, Beijing Electronics, plans to purchase company shares worth 500 million yuan to 1 billion yuan over the next six months, according to a Wednesday filing with the Shenzhen bourse.

SHE:000725
Asia

CapitaLand India Trust Spends 30% of Private Placement Proceeds

CapitaLand India Trust (SGX:CY6U) has used SG$45.6 million, representing 30.4% of the gross proceeds of the private placement conducted earlier this year, according to a Wednesday filing to the Singapore stock exchange.Of the SG$100 million earmarked to part fund the ongoing development and construction as part of its acquisition of Building 1 of Ebisu in Bangalore, India, the manager used SG$37.3 million.The company also used SG$5.7 million of the SG$47.4 million allotted to part fund the ongoing development and construction of and acquisition of an office project in Bangalore from Maia Estates Offices.It also used SG$2.6 million to pay all the fees and expenses tied to the private placement.The company's shares were up nearly 2% in recent trade.

SGX:CY6U