The Nikkei 225 opened 0.37% higher in Tokyo trading on the 12th, but gains were limited after reports that Nvidia's CEO could be ousted, and volatility increased in the afternoon session.
The Nikkei 225 opened 0.37% higher from the previous day at ¥61,475.11, maintaining its upward trend for a second consecutive day. Moves in AI-related stocks in the US market the previous day supported buying at the open by stimulating investor sentiment.
However, upward momentum slowed shortly after the open. Reports emerged that Nvidia's board was preparing to oust CEO Jensen Huang (黄仁勋), sending the company's shares down more than 7% in after-hours trading and turning Nasdaq futures weaker.
A number of South Korean AI-related stocks gave up their gains after the open and fell, limiting the upside for the broader indices. Profit-taking also followed comments that CoreWeave's strong results had already been priced in.
Among major stocks, Toyota edged lower, Sony Group was firm and Fast Retailing rose. Market participants are closely watching Nvidia's developments for their potential impact on AI semiconductor valuations.