TOKYO: Japan’s Nikkei share average rose on Wednesday, lifted by gains in Nvidia supplier Advantest, while investors awaited the US chipmaker’s outlook due before the Tokyo market opens on Thursday.
The tech-heavy Nikkei advanced 0.3 percent to close at 42,520.27. By contrast, the broader Topix eased 0.07 percent to 3,069.74.
“The market is focused on Nvidia’s outlook. Its results will probably beat market expectations, but the bar for Nvidia to satisfy the market with its outlook is high,” said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
“Any comments from the company could also become market-moving cues.”
Nvidia is set to announce its quarterly report later in the day, with the update likely to fuel or dampen Wall Street’s rally in AI-related stocks and Japan’s Nikkei, which has heavy exposure to chip-related stocks.
Heavyweight Advantest rallied 4.49 percent to give the biggest boost to the Nikkei.
Camera maker Nikon surged 20.74 percent to 1,746.5 yen, a daily limit high, after Bloomberg reported EssilorLuxottica SA , the maker of Ray-Ban sunglasses, was exploring a potential deal to increase its stake in the company. The market weighed the yen’s direction as expectations grew for the Federal Reserve to cut interest rates in September, said Shigetoshi Kamada, general manager at the research department at Tachibana Securities.
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