TOKYO: Japan’s Nikkei share gauge lost ground for a fourth day on Wednesday as investors remained wary ahead of pivotal earnings from artificial intelligence heavyweight Nvidia.
The Nikkei 225 Index swung between gains and losses before closing down 0.3 percent to 48,537.70, marking its longest losing streak in seven weeks. The broader Topix dipped 0.2 percent.
Japan’s blue-chip share gauge sank by the most in more than seven months in the previous session as concerns about the valuations of technology-related companies rattled global equity markets. US stocks ended lower overnight, with Nvidia’s shares sliding 2.8 percent. The company will report quarterly results after the close in New York on Wednesday.
A sharp rise in Japanese government bond yields, spurred by concerns about stimulus spending along with diplomatic tensions with China, also acted as drags on the nation’s shares, said Nomura Securities strategist Fumika Shimizu.