Nikkei rises as SoftBank Group trims losses

TOKYO: Japan’s Nikkei share average rose on Wednesday, extending gains after SoftBank Group trimmed losses, while Sony Group helped the broader Topix to close at a fresh high on a robust annual profit forecast.

The Nikkei closed 0.43 percent higher at 51,063.31 in choppy trade. The broader Topix jumped 1.14 percent to a record high close of 3,359.33.

SoftBank Group ended 3.46 percent lower, after falling 10 percent, as the technology investor disclosed its sale of Nvidia stake for USD5.8 billion.

Heavyweight chip-related shares fell, with Advantest and Tokyo Electron down 0.23 percent and 1.55 percent, respectively.

“SoftBank Group pared losses, while investors bought stocks across various sectors, which helped the Nikkei to end higher,” said Shota Sando, market analyst at Tokai Tokyo Intelligence Laboratory.