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The Nikkei 225 Index dropped 1% to around 68,300 on Friday, extending losses for a third consecutive session and following an overnight selloff in US technology stocks as concerns over OpenAI’s revenue outlook weighed on the broader artificial intelligence sector. Reports suggested that OpenAI’s annualized revenue stood at $50 billion at the end of September, below the widely reported $68 billion figure last month. Investors are increasingly focused on whether AI-related revenue can justify the sector’s substantial investment spending, particularly as Japanese firms play a significant role in developing global AI infrastructure. Among the biggest decliners were Advantest (-2.3%), Kioxia Holdings (-4.3%), SoftBank Group (-7.1%), Fujikura (-3.5%) and Murata Manufacturing (-3.6%). Meanwhile, data showed that Japan’s personal spending declined for a ninth consecutive month in August, as persistent inflation continued to weigh on consumer demand.

Japanese Shares Fall on Tech Losses

Australian stocks rose 36 points or 0.4% to 8,697 in Friday morning session, reversing weakness in the prior two sessions amid a modest rise in U.S. equity futures after Wall Street closed lower for the third straight day as rising Treasury yields and oil prices above $100 per barrel pressured sentiment. However, gains were capped by caution ahead of September labor market data next week after the August jobless rate in Australia hit the highest since 2021. Main trading partner China will also release key data, including CPI/PPI and trade figures as activity resumed after the Golden Week holidays.  Tech, financials, and consumer shares led advances, offset by weakness in communications, manufacturing, healthcare, and industrial services. The big four banks rallied, joined by solid moves in Transurban (2.1%), QBE Insurance (2.0%), Suncorp (1.2%), and Aristocrat Leisure (1.0%). For the week, domestic markets are tracking a second consecutive gain, up about 0.2% so far.

Australian Shares Rebound, Weekly Gain Intact

US stock futures steadied on Friday after the major indexes fell in the previous session, as technology shares sold off on reports that OpenAI’s revenue was below earlier estimates. On Thursday, the S&P 500 and Nasdaq Composite declined 0.47% and 1.25%, respectively, marking their second consecutive session of losses, while the Dow edged up 0.1%. Reports suggested that OpenAI’s annualized revenue reached $50 billion at the end of September, below the widely cited $68 billion figure from last month. Chipmakers led the decline, with Micron falling 4.8%, Nvidia dropping 2.9%, Sandisk losing 4.9%, AMD sliding 3.9% and Intel tumbling 5.3%. Meanwhile, SpaceX gained more than 4% in extended trading after announcing a deal to acquire a nationwide spectrum portfolio. Investors are now turning their attention to October’s US consumer sentiment data, along with earnings reports from Delta Air Lines and BlackRock.

US Futures Stabilize After Tech Selloff

Japan’s household spending dropped 3.1% yoy in August 2026, easing from July’s decline and outperforming market expectations of a 3.6% decrease. However, it marked the ninth straight month of decline, though the pace was the mildest since May. Spending continued to contract on food (-1.4% vs -1.3% in July), utilities (-5.2% vs -9.2%), healthcare (-1.9% vs -6.0%), clothing (-8.7% vs -0.3%), housing (-5.8% vs -16.4%), and education (-12.3% vs -5.4%). Meanwhile, outlays on furniture and household goods declined 6.3%, reversing a 0.7% increase in July, while spending on culture and recreation swung to a 4.3% contraction from 4.8% growth. In contrast, transport and communication spending recovered, rising 0.2% after an 8.5% drop in the previous month. On a seasonally adjusted monthly basis, household expenditure edged up 0.1%, extending its gains for a second consecutive month but slowing sharply from July and falling short of estimates for a 0.5% increase.

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