Japanese Shares Slip Ahead of Nvidia Results
The Nikkei 225 Index slipped 0.3% to below 38,300, while the broader Topix Index declined 0.4% to 2,698 on Wednesday, reversing gains from the previous session as caution took hold ahead of Nvidia’s earnings report.
Investors are closely watching the results to gauge demand for AI chips, amid concerns that it could fall short of expectations.
On the domestic front, data revealed that Japanese exports rose 3.1% in October, recovering from a 1.7% decline in September and surpassing forecasts of a 2.2% increase. Imports also grew by 0.4%, defying expectations for a 0.4% decrease.
Index heavyweights saw notable losses, with shares of Disco falling 1.2%, Tokio Marine Holdings dropping 6.9%, Mitsubishi UFJ shedding 1.5%, Tokyo Electron losing 1%, and Toyota Motor declining 1.2%.
In corporate news, shares of Seven & I Holdings surged 6%, following reports that the founding family plans to raise over 8 trillion yen to take the company private by the end of this financial year.
Source: Trading Economics
