TOKYO: Japan’s Nikkei share average rose on Friday after two straight sessions of falls, as chip-related stocks tracked artificial intelligence darling Nvidia higher.
The Nikkei had gained 1.02% to 38,415.32 by the midday break, but was set to fall 1.6% for the week.
The broader Topix rose 0.8% to 2,704.34, but was poised for a 1% weekly loss.
“Nvidia’s gains lifted sentiment and investors bought back Japanese stocks,” said Naoki Fujiwara, senior general manager at Shinkin Asset Management.
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“And it was time for making active bets after the Nikkei fell below 38,000 in the previous session.”
The Nikkei index hit a low of 37,945.21 in intraday trade on Thursday, falling below 38,000 for the first time since Nov. 1.
The index closed at its lowest since Oct. 25.
Wall Street’s main indexes closed higher after a choppy session on Thursday, with the blue-chip Dow and the S&P 500 hitting one-week tops.
Shares of Wall Street’s biggest company, Nvidia, climbed 0.5% after teetering following the earnings release on Wednesday.
The US semiconductor index rose 1.6%.
In Japan, chip-making equipment maker Tokyo Electron jumped 2.5%.
Japan’s Nikkei slips as caution reigns ahead of Nvidia results
Chip-testing equipment maker Advantest rose 1.78%.
Chip materials maker Resonac jumped 3.84%.
All but three of the Tokyo Stock Exchange’s 33 industry sub-indexes rose, with refiners rising 3.25% to become the top performer.
The drug sector slipped 0.1% and was the worst performer, with Daiichi Sankyo falling 0.94% to weigh the most on the Topix.
Chugai Pharmaceutical lost 0.91%.
Of the 225 stocks on the Nikkei, 172 rose and 50 fell, with three trading flat.
Source: Brecorder
