At the Tokyo market open on the 12th, the Nikkei Average remained range-bound, moving around the previous day's close. Reports that preparations were under way to dismiss Nvidia's CEO weighed on investor sentiment, limiting the morning gains.
The Nikkei Average remained range-bound from the opening of the morning session, with AI-related and semiconductor stocks bought at times. Following the previous day's moves in the US market, buying led the AI-related group, but reports that preparations were under way to dismiss Nvidia's CEO weighed on investor sentiment, and the Nikkei Average turned weaker after rising.
In the US stock market, the Nasdaq Composite rose approximately 1.5%. AI-focused cloud-related stocks were bought on positive sentiment toward CoreWeave's quarterly results, and the SOX rose just under 5%. Buying in AI- and semiconductor-related stocks also supported the Nikkei Average in Tokyo.
The Nikkei Average fell by nearly ¥200 at times in the afternoon. The Wall Street Journal online edition reported in the morning, Japan time, that Nvidia's board of directors was preparing to dismiss CEO Huang. Reports that Nvidia's share price had plunged in after-hours trading weighed on Japanese stocks.
TOPIX extended its gains. By stock, SoftBank Group, Shin-Etsu Chemical and Fast Retailing rose, while Advantest, Recruit and Ibiden fell.