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Yomiuri Shimbun file photo The Tokyo Stock Exchange
Reuters
12:35 JST, February 27, 2025
TOKYO, Feb 27 (Reuters) – Japan’s Nikkei share average closed higher on Thursday, recovering from a decline in the previous session, though gains were capped as chipmaker Advantest fell despite a strong growth forecast from its client Nvidia.
The Nikkei rose 0.3% to close at 38,256.17, after falling as much as 0.2% during the session. The broader Topix climbed 0.73% to 2,736.25.
Markets had been awaiting earnings from artificial intelligence chip-maker Nvidia for a boost to lift the Nikkei, which hit a four-month low on Wednesday.
“Nvidia reported firm results but the market was not overjoyed,” said Yusuke Sakai, a senior trader at T&D Asset Management.
Japanese chip-related stocks, key components of the index, showed mixed movements as the market awaited Nvidia’s share performance later in the day, strategists said.
Chip-making equipment maker Tokyo Electron trimmed early gains to end nearly 1% higher, providing the biggest boost to the Nikkei.
Chip-testing equipment maker Advantest, a supplier to AI darling Nvidia, erased early gains to slump about 2%, weighing on the Nikkei the most. The stock has been subject to fluctuations due to broader market trends.
Socionext jumped 12.69% to become the biggest percentage gainer in the Nikkei after the chip-related firm announced a partnership with Google Quantum AI.
Shares of Seven & I Holdings tanked 11.69% after the operator of convenience stores said founding Ito family could not secure the financing required for a $58 billion management buyout, and it would consider a rival offer from Canada’s Alimentation Couche-Tard.
Itochu jumped 4.34% after the trading firm said it had ended its consideration of participating in the Seven & I founding family’s buyout proposal.
Nissan Motor surged 3.65% after a report suggested the automaker is considering replacing CEO Makoto Uchida due to a decline in business performance and the collapse of talks to merge with Honda Motor.
