Tokyo, August 25 (QNA) – Japan’s Nikkei share average reversed an earlier 1.4% decline to close 0.5% higher on Tuesday, as chip-related stocks recovered from losses and helped lift the broader market.
The Nikkei ended at 65,856.43, while the broader Topix index gained 0.5% to 4,093.67.
Tokyo Electron, a maker of semiconductor manufacturing equipment, rose 0.47%, while memory-chip maker Kioxia gained 0.65%, both recovering from earlier losses. Advantest, a semiconductor testing equipment maker, pared its losses to close 0.14% lower.
The gains came despite declines in US technology stocks on Monday, which pushed the S&P 500 and Nasdaq lower and weighed on investor sentiment toward the sector.
Investors are also looking ahead to quarterly results from chipmaker Nvidia, which are expected to provide fresh clues on the strength of demand for artificial intelligence-related technology. Any signs of slowing growth could renew concerns about high valuations across the technology sector.
Nvidia shares fell for a seventh consecutive session.
Among Tokyo Stock Exchange’s sub-indices, the shipping sector was the best performer, although it ended 0.91% lower. (QNA)