The Nikkei Average fell for the first time in 3 sessions, closing ¥130.18 lower than the previous day at ¥66,131.98. AI and semiconductor-related stocks were bought in morning trading on the back of strong earnings from U.S. chipmaker NVIDIA, but the momentum did not last and selling prevailed in the afternoon.
The Nikkei Average fell for the first time in 3 sessions on the Tokyo Stock Exchange on the 27th, closing ¥130.18, or 0.20%, lower than the previous day at ¥66,131.98. Buying in AI and semiconductor-related stocks led the market in morning trading, supported by NVIDIA's earnings, but the momentum did not last. Caution ahead of the Jackson Hole meeting and moves to assess comments related to the Federal Reserve weighed on the market.
Semiconductor-related stocks were among the main decliners, with Advantest standing out on the downside after falling 3.05%. Short-term profit-taking selling based on NVIDIA's earnings spread, while the company's comments on surging memory prices heightened investor caution.
Semiconductor-related stocks showed mixed performance. Kioxia Holdings surged 5.00%, while Furukawa Electric rose 4.71% and Fujikura gained 3.68%. Expectations for expanding memory demand prompted buying in some stocks.
Yomiuri 333 closed at ¥53,449.90, up ¥17.34 from the previous day, extending its advance to 6 consecutive trading sessions. Of the 333 constituent stocks, 152 rose and 175 fell. The TOPIX ended at 4,117.22, up 6.20 points.
Across the broader market, caution ahead of the Jackson Hole meeting intensified. Some market participants expect the market to search for direction again from the 28th onward, depending on the Fed's comments.