Japan's Nikkei rises as tech stocks gain despite Nvidia uncertainty

Japan's Nikkei share average edged higher on Thursday, supported by gains in technology stocks, even as Nvidia-linked suppliers Advantest and Ibiden declined amid uncertainty surrounding the US artificial intelligence chipmaker, according to a report by Reuters.

The Nikkei rose 0.33% to 61,448.21 as of 0125 GMT, while the broader Topix gained 0.59% to 3,952.62.

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Nvidia's uncertain outlook weighed on companies with close ties to the chipmaker, while other semiconductor stocks advanced, tracking gains among their US peers on Wall Street, said Daisuke Hashizume, senior strategist at Daiwa Securities, according to Reuters.

The company's board is meeting to discuss whether to remove CEO Jensen Huang, a source familiar with the matter told Reuters. The development comes amid reports of two extramarital affairs involving the longtime chief executive.

Among individual stocks, chip-testing equipment maker Advantest fell 2.89%, while electronics components manufacturer Ibiden declined 6.11%.

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In contrast, Tokyo Electron, which makes semiconductor manufacturing equipment, rose 2.57%, while memory-chip maker Kioxia gained 2.4%. Technology investment company SoftBank Group advanced 0.67%.

Market breadth remained positive, with 64% of the more than 1,500 stocks listed on the Tokyo Stock Exchange's Prime Market advancing. Around 31% declined, while 3% traded largely unchanged, according to Reuters.

(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)