TOKYO: Japan’s benchmark Nikkei index was subdued on Wednesday as gains in chip-related heavyweights, which tracked Nasdaq overnight, were offset by losses in drugmakers.

The Nikkei 225 edged up 0.03% to close at 28,874.89, after seeing its biggest rise in 2021 on Tuesday, while the broader Topix slipped 0.53% to 1,949.14.

The benchmark index rose as much as 0.08% during the session. “Gains in the Nasdaq overnight lifted the Nikkei today. And the Nasdaq’s move will be a key for the Nikkei’s performance for a while because Nikkei’s heavyweights are technology and growth stocks,” said Takatoshi Itoshima, strategist at Pictet Asset Management. Chip-related companies Tokyo Electron and Advantest gained 0.89% and 1.90%, respectively.