Tokyo stocks traded slightly lower despite strong earnings from US chipmaker NVIDIA. The decline was limited near the close of the morning session, and buying in AI and semiconductor stocks did not carry over.
The Nikkei 225 closed the morning session at ¥66,164.19, down ¥97.97 from the previous day, for a slight decline. Buying interest initially focused on strong earnings from US chipmaker NVIDIA, but it did not last. The TOPIX was up 3.68 points at 4,114.70, trading flat.
At 11:00 a.m., the Nikkei 225 had rebounded temporarily to ¥66,954.69, but then surrendered its gains again, with the decline currently exceeding ¥300. Buying in some AI and semiconductor stocks on the positive reaction to NVIDIA's earnings did not persist across the market as a whole, and some saw the relevant catalysts as having run their course.
The Nikkei 225 opened at ¥66,775.78, up ¥513.62 from the previous day. Following a rise in NVIDIA's share price in after-hours trading, AI and semiconductor-related stocks that had lagged high-priced stocks were prone to buying, but the gain subsequently narrowed.
Marketwide trading volume was 974.67 million shares, with trading value of ¥4.2745 trillion. Decliners accounted for 54% of stocks and advancers for 42%. By sector, marine transportation, other products and pharmaceuticals fell, while nonferrous metals, electric appliances and mining rose.