Tokyo shares down ~4%, South Korea down ~6%. Fingers pointing at OpenAI IPO delay

Its an awfully bleak day in equity markets here in Asia.

As I post

• Japan’s Nikkei is down 3.8%, SoftBank, whose share price has been
  boosted by CEO Masayoshi Son’s bet on OpenAI, fell ~12%.
• South Korea’s Kospi is down 5.6%. Program trading was halted for 5 minutes with the ‘sidecar’ invoked.
• Shanghai Composite -1.7%

Narratives centre on this from earlier:

• New York Times says ‘OpenAI leans toward waiting until next year for IPO’

NYT cite 3 unnamed sources ‘familiar with the matter’.

This article was written by Eamonn Sheridan at investinglive.com.