TOKYO: Japan’s Nikkei share average rose on Wednesday ahead of key US inflation data, supported by chip stocks and gains in South Korean shares, while jitters persisted over fading prospects for a breakthrough in the Middle East conflict.
The Nikkei climbed 0.83 percent to close at 67,524.06, after swinging between gains and losses earlier in the session. The broader Topix ended 0.94 percent higher at 4,139.00.
All eyes are on the US Consumer Price Index, due later in the day, for clues to the direction of Federal Reserve interest rates.
Semiconductor-related shares, which weigh heavily on Japan’s benchmark Nikkei index, turned positive after a mixed start.
Memory chipmaker Kioxia gained 3.87 percent while chip manufacturing equipment maker Tokyo Electron added 2.61 percent. Tech-heavy South Korea’s index, which often moves in tandem with Nikkei, jumped 3.68 percent.
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