In mid-morning trading on the 27th, the Nikkei Average in Tokyo rose as much as ¥692.53 but then gave up its gains as buying failed to continue. Selling emerged in AI- and semiconductor-related stocks, while the market opened higher on expectations for Nvidia's earnings that had built through the previous day.
The Nikkei Average rose as much as ¥692.53 from the previous day to ¥66,954.69, but subsequently gave up its gains, with the decline exceeding ¥300. Early in the session, selling was reported in high-priced stocks such as Advantest and Tokyo Electron. Although market participants said no adverse news had emerged, there was also speculation that the selling reflected a reaction to expectations for earnings from a major US semiconductor company.
At the open, the Nikkei Average started ¥513.62 higher than the previous day at ¥66,775.78. Buying emerged in high-priced AI- and semiconductor-related stocks after Nvidia shares rose in after-hours trading.
Market participants pointed out that buying on a favorable reception to Nvidia's earnings had emerged, and that investors may be viewing the available catalyst as having been exhausted.
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