The technically heavy Nikkei went 0.3% to close at 42,520.27. The wider Topix, on the other hand, illuminated 0.07% to 3,069.74.
“The market is aimed at Nvidia’s prospects. The results are likely to defeat market expectations, but the bar for Nvidia to satisfy the market with its prospects is high,” says Shoichi Arisawa, general director of the investment research department of Iwaicosmo Securities.
“All comments from the company can also become market -moving signals.”
NVIDIA will announce its quarterly report later on the day, whereby the update will probably feed or dampen the Wall Street meeting in AI-related shares and the Japanese Nikkei of the AI-related shares, which has a heavy exposure to chip-related shares.
Heavyweight Loving set up 4.49% to give the biggest boost to the Nikkei. Cameramaker Nikon rose with 20.74% to 1,746.5 yen, a daily limit high, after Bloomberg reported that Essilorluxottica SA, the maker of Ray-Ban sunglasses, investigated a potential deal to increase his interest in the company. The market weighed the direction of the Yen as the expectations grew for the Federal Reserve to lower the interest rates in September, said Shigetoshi Kamada, general manager of the research department of Tachibana Securities.
“If the Bank of Japan quickly increases its policy percentage, the Yen, who has traded within a reach, could spijken. The market is worried about that step,” Kamada said.
Most car manufacturers slid out, with Honda lost 0.48% and Mitsubishi engines fell 1.95% after reducing the prediction of the business profit by 30%. In the meantime, Toyota recovered from early losses to end 0.21% higher.
Bank shares fell, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group with 0.99% and 0.85% respectively.
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