Japan's Nikkei edges lower as strong yen weighs; Nvidia earnings in focus
Japan's Nikkei share average edged lower on Wednesday as a strengthening yen weighed on the index's many exporters, while looming earnings from AI darling Nvidia later in the day kept investors cautious.
The Nikkei was down 0.3% at 38,167.80 as of 0019 GMT, continuing its narrow fluctuations since mid-month anchored around the psychological 38,000 mark.
Of the index's 225 components, 177 fell, 45 rose, while three were trading flat.
The broader Topix slipped 0.3%.
The yen was little changed at 144.14 per dollar, but strengthened as far as 143.45 at the start of the week from 149.305 on Aug. 15. A stronger yen reduces the value of overseas sales, while also making stocks more expensive for overseas investors.
Most automakers fell, with Nissan down 1.25% and Mazda sliding 1.52%.
However, Toyota Motor rose 2.29%.
Semiconductor-sector shares were mixed, with chip-testing equipment maker and Nvidia supplier Advantest rising 2.33% to be the Nikkei's biggest gainer by index points.
At the same time, chip-testing machinery giant Tokyo Electron was the biggest drag on the index with a 1.79% decline.
(You can now subscribe to our ETMarkets WhatsApp channel)
Read more on economictimes.indiatimes.com
