Japan’s Nikkei Stock Average Retreats for 4th Day on Tech Valuation Concerns (UPDATE 1)

Reuters

12:18 JST, November 19, 2025 (updated at 16:54 JST)

TOKYO, Nov 19 (Reuters) – 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 NVDA.O.

The Nikkei 225 Index .N225 swung between gains and losses before closing down 0.3% to 48,537.70, marking its longest losing streak in seven weeks. The broader Topix .TOPX dipped 0.2%.

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. U.S. stocks ended lower overnight, with Nvidia’s shares sliding 2.8%. 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.

“The decline in semiconductor-related stocks and rising interest rates seem to be weighing on the market,” Shimizu said. “The focus will be on whether (Nvidia) can show revenue or profit forecasts that exceed market expectations.”

There were 112 advancers on the Nikkei index against 111 decliners. The largest gainers in the index were retailer Aeon 8267.T, up 4.6%, followed by cinema operator Toho (Tokyo) 9602.T, which climbed 3.9%.

The biggest losers were Sumco 3436.T, down 6.26%, followed by Ibiden 4062.T, which slid 4.1%.