Tokyo stocks end mixed as tech shares weigh on Nikkei: analyst

Japan's benchmark Nikkei 225 Stock Average ended almost flat on Friday as losses in technology shares weighed on the market amid concerns over the outlook for AI-related businesses, said Zhang Shixuan, a market analyst for China Global Television Network (CGTN).

The 225-issue index closed down 11.19 points, or 0.02 percent, at 69,030.92, having fallen sharply in morning trading before recovering through the afternoon. The broader Topix index, meanwhile, finished 13.35 points, or 0.33 percent, higher at 4,104.81, leaving Tokyo stocks mixed at the close.

"Japan's stock market came under pressure today, as concerns over the AI sector, rising oil prices and stress in global bond markets weighed on investor sentiment. The Nikkei 225 fell sharply in morning trading. The index managed to climb up in afternoon trading and closed almost flat. SoftBank Group, a major investor in OpenAI, was among the biggest losers. Its shares fell sharply, dragging on the Nikkei as investors grew more cautious about the outlook for AI investments," Zhang said.

Beyond the stock market, the analyst said, Japan's economic data carried a silver lining as well, with consumption continuing to decline at a slower pace.

“Meanwhile, Japan’s latest economic data offered little comfort. Household spending fell 3.1 percent year on year in August, highlighting continued pressure on consumers amid rising living costs. The drop, however, was smaller than economists had expected. Overall, concerns over AI valuations, inflation and global interest rates combined to weigh on Japanese equities," Zhang said.

Tokyo stocks end mixed as tech shares weigh on Nikkei: analyst

A newly released Chinese documentary provides a rare glimpse into the country's crackdown on cross-border telecom scam networks in northern Myanmar, highlighting the pivotal role of technological countermeasures in the campaign.

Titled "The Demise of Telecom Fraud in Northern Myanmar," the three-part documentary was jointly produced by the Chinese Ministry of Public Security and China Media Group, and was aired on CCTV nationwide on Monday. It reveals the brutal conditions inside telecom fraud compounds in northern Myanmar, where scams mainly targeted Chinese citizens.

The documentary unveils the covert methods used by fraud gangs, such as stealing China's communication signals to make their scams highly deceptive.

"For example, they secretly ran wireless bridges, cables and fiber optics to pull domestic network signals into Muse (town in Myanmar) for remote use, allowing them to pose as users inside China and carry out fraud," said Zhang Zheng, a second-level inspector at the Cybersecurity Administration Bureau of the Ministry of Industry and Information Technology.

According to the documentary, expert teams from the Ministry of Industry and Information Technology worked with public security authorities to conduct a sweeping inspection for illegal equipment in key areas.

In just three months, they shut down 75,000 fraud-related mobile phone numbers and more than 4,000 broadband accounts, and cleared nearly 100 wireless bridges, effectively cutting off the communication channels between fraudsters and users inside China.

Chinese documentary spotlights tech in Myanmar telecom fraud crackdown