To use this site, please disable the ad blocking feature and reload the page.
This website uses cookies to collect information about your visit for purposes such as showing you personalized ads and content, and analyzing our website traffic. By clicking “Accept all,” you will allow the use of these cookies.
Users accessing this site from EEA countries and UK are unable to view this site without your consent. We apologize for any inconvenience caused.
Yomiuri Shimbun file photo The Tokyo Stock Exchange
Reuters
12:29 JST, November 19, 2024
TOKYO (Reuters) – Japan’s Nikkei share average rose on Tuesday, driven by chip-related stocks after the Nasdaq closed higher overnight, while investors awaited AI leader Nvidia’s quarterly earnings due later in the global day.
The Nikkei had climbed 0.55% to 38,429.37 by the midday break, while the broader Topix was up 0.47% at 2,704.47.
“Some of Japan’s chip-related stocks rose after the U.S. semiconductor chip index snapped six straight sessions of losses overnight,” said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory.
“Some chip shares also fell as market participants stayed away from active bets ahead of Nvidia’s earnings.”
The Nasdaq and S&P 500 closed higher on Monday, recovering some losses as investors anticipate quarterly earnings from Nvidia.
Nvidia will report its third-quarter earnings on Wednesday, which investors will parse to assess demand for chips and the sustainability of the AI euphoria that has driven much of the market’s rally this year.
In Japan, chip-testing equipment maker Advantest jumped 4.18% and was the biggest boost to the Nikkei. Semiconductor silicon wafer maker Shin-Etsu Chemical rose 1.51%.
Lasertec fell 1.07%, while Tokyo Electron erased early losses.
Banking shares rose on expectation the Bank of Japan would hike rates as soon as next month. The banking index gained 0.99%, with Sumitomo Mitsui Financial Group and Mizuho Financial Group climbing 2.02% and 1.71%, respectively.
Auto makers rose 1.35% to become the top performer among the Tokyo Stock Exchange’s 33 industry sub-indexes. Toyota Motor and Honda Motor gained 1.61% and 1.76%, respectively.
Overall, investors remained cautions as they wanted to see the impact of policy changes from the incoming Donald Trump administration on Japanese exporters, Yasuda said.
Staffing agency Recruit Holdings fell 3.32% to weigh on the Nikkei the most. (Reporting by Junko Fujita; Editing by Subhranshu Sahu)
