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Nikkei rises on yen weakening, but caution reigns ahead of Nvidia earnings
(MENAFN) The NIKKEI index closed higher on Wednesday, buoyed by a weaker yen, which supported the index's performance despite a cautious mood among investors awaiting Nvidia Corp.'s earnings report later in the day. The Nikkei ended the trading session up 0.22 percent at 38,371.76 points, reversing an earlier downward trend as the yen continued to weaken against the dollar. However, the broader Topix index experienced a slight decline, falling 0.08 percent amid the broader market uncertainties.
Investor sentiment remains on edge with high expectations for Nvidia's earnings, which could significantly impact corporate confidence in AI-driven technologies. As noted by Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management, the outcome of Nvidia's results could lead to substantial market fluctuations, leading Japanese investors to remain cautious. The anticipation of strong results from Nvidia is creating volatility, with potential for significant swings depending on the actual performance reported.
In the semiconductor sector, stocks showed a mixed performance. Advantest Corp., a chip testing equipment manufacturer and supplier to Nvidia, saw its shares rise by 4.18 percent, marking the largest gain on the Nikkei by points. Similarly, Lasertech Corp. increased by 4.19 percent. Conversely, Tokyo Electron, another chip testing equipment maker, experienced a slight decline, and SoftBank Group Corp., which invests in AI-focused startups, fell by 2.29 percent. These mixed performances reflect the broader market's sensitivity to Nvidia's earnings announcement and its implications for the tech sector.
Investor sentiment remains on edge with high expectations for Nvidia's earnings, which could significantly impact corporate confidence in AI-driven technologies. As noted by Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management, the outcome of Nvidia's results could lead to substantial market fluctuations, leading Japanese investors to remain cautious. The anticipation of strong results from Nvidia is creating volatility, with potential for significant swings depending on the actual performance reported.
In the semiconductor sector, stocks showed a mixed performance. Advantest Corp., a chip testing equipment manufacturer and supplier to Nvidia, saw its shares rise by 4.18 percent, marking the largest gain on the Nikkei by points. Similarly, Lasertech Corp. increased by 4.19 percent. Conversely, Tokyo Electron, another chip testing equipment maker, experienced a slight decline, and SoftBank Group Corp., which invests in AI-focused startups, fell by 2.29 percent. These mixed performances reflect the broader market's sensitivity to Nvidia's earnings announcement and its implications for the tech sector.
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