TOKYO: Japan’s Nikkei share average ended higher on Thursday, supported by AI chipmaker Nvidia’s strong quarterly outlook and renewed trader confidence after billionaire investor Warren Buffett increased his investments in the country.
The Nikkei recovered from early losses to close 0.7 percent higher at 42,828.79. The broader Topix also ended up 0.7 percent.
Nvidia shares are a key driver of Japan’s Nikkei, which is heavily weighted toward chip-related stocks.
US-based chipmaker Nvidia forecast third-quarter revenue above market estimates on Wednesday, helped by robust demand for its AI chips, but the stock fell 3 percent in after-hours trading as its on-hold China business remained uncertain.
“The main focus is Nvidia. The market is waiting to see how the shares will perform on Wall Street later in the day,” said Takamasa Ikeda, senior portfolio manager at GCI Asset Management.
The Nikkei index opened lower on Thursday but recouped losses as chip-testing equipment maker and Nvidia supplier Advantest rebounded, closing up 1.5 percent after an earlier drop of 3.6 percent.
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