Tokyo: The Japanese index saw a cautious recovery on Wednesday, as investors remained apprehensive ahead of the earnings announcement by artificial intelligence giant Nvidia. The Nikkei 225 rose 0.4% to 48,899.69 points in early trading, after posting its biggest drop in more than seven months in the previous session. The broader Topix index climbed 0.5%.
According to Yemen News Agency, concerns about technology company valuations rattled global stock markets, with U.S. stocks closing lower, including Nvidia, whose shares fell 2.8%. The company will announce its quarterly results after the close of trading in New York today.
Japanese technology stocks rebounded after sharp declines, but rising domestic interest rates and the diplomatic row with China continue to weigh on sentiment, as stated by Fumika Shimizu, a strategist at Nomura Securities.
On the Nikkei, 155 stocks advanced while 67 declined. Furukawa Electric was the top performer on the index, jumping 4.4%, followed by NEC, which rose 4%. Renesas Electronics shares led the losers, falling 4.4%, followed by Sumco shares, which declined 4.2%.