TOKYO: Japan’s Nikkei share average changed course to end higher on Thursday, as heavyweight chip-related stocks narrowed early losses and energy shares gained.
The Nikkei closed 0.29% higher at 38,807.38, after three straight sessions of losses. The index fell as much as 0.76% earlier in the session.
The broader Topix rose 0.49% to 2,661.59.
“Japan’s major chip stocks mirrored the weak performance of US chip stocks. It looks like the fever for Nvidia is over,” said Shigetoshi Kamada, general manager at the research department at Tachibana Securities.
“For the Nikkei to cross the 40,000 level again, Tokyo Electron and its peers need to get a boost.” The S&P 500 and Nasdaq edged lower overnight as investors took profits in chipmaker stocks.
The index of semiconductors lost 2.5%, with shares of Nvidia. which propelled a sharp rally in Japanese chip-related shares, slipping 1.1%.
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