TOKYO: Japan’s Nikkei share average closed higher on Friday and logged its biggest weekly gain in five months, as upbeat earnings and renewed AI optimism helped the market recover from the previous week’s sharp selloff despite concerns surrounding Nvidia.
The Nikkei rose 0.53 percent to close at 61,142.35, posting a weekly gain of 6.46 percent for its best week since the week ended June 15.
The broader Topix advanced 0.11 percent to 3,941.57, marking a weekly gain of 6.3 percent, its strongest since mid-August 2024.
The market rose despite an overnight selloff in Nvidia shares that weighed on US stocks. Gains in Broadcom and Alphabet, however, pointed to continued investor confidence in the wider AI sector.
Nvidia CEO Jensen Huang’s departure has also raised questions about the company’s future direction and the implications for US chip export policy and access to the Chinese market.