
Nikkei sheds early gains as mood turns cautious ahead of Nvidia earnings
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Japan's Nikkei share average shed early gains of as much as 1.2% to end flat on Wednesday, as the mood turned cautious ahead of earnings from artificial intelligence chip leader Nvidia later in the day.The Nikkei ended the day down 1.71 point at 37,722.40, effectively unchanged but snapping a three-day rally.The broader Topix also finished essentially flat but up 0.02 point at 2,769.51.Japanese stocks were initially buoyed by a sharply weaker yen, which boosts the value of overseas revenues for the country's many heavyweight exporters.However, a poor auction of super-long Japanese government bonds also saw yields pushing higher again, weighing on sentiment.The Nikkei particularly struggled above the key psychological level of 38,000, after pushing as high as 38,178.73 in morning trading.Some additional push is needed to take the Nikkei firmly above 38,000, such as further positive developments in U.S. tariff negotiations, said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management.While a weaker yen supports sentiment, "one can't say the foreign-exchange market has stabilized", he added.Despite the more cautious finish to the session, chip-testing equipment maker and Nvidia supplier Advantest remained the Nikkei's biggest gainer in index-point terms through to the close, ending with a 1.6% advance.By contrast, chip-making machinery manufacturer Tokyo Electron flipped from early gains to finish down 0.1%.Automakers as a group had been strong in early trading but ended the day mixed. Honda climbed 1.3%, but Toyota reversed gains to drop 0.3%.Nissan was among the most volatile stocks on the day, leaping as much as 4.6% at the start of the afternoon session following a media report that it plans more than $7 billion in fundraising to help turn the business around. However, it shed those gains to end the day down 0.3%.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
28 minutes ago
- Economic Times
RailTel Q1 Results: PAT jumps 36% YoY to Rs 66 crore, revenue surges 33%
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price


Time of India
28 minutes ago
- Time of India
Huawei shows off AI computing system to rival Nvidia's top product
China's Huawei Technologies showed off an AI computing system on Saturday that one industry expert has said rivals Nvidia's most advanced offering, as the Chinese technology giant seeks to capture market share in the country's growing artificial intelligence sector. The CloudMatrix 384 system made its first public debut at the World Artificial Intelligence Conference (WAIC), a three-day event in Shanghai where companies showcase their latest AI innovations, drawing a large crowd to the company's booth. The system has drawn close attention from the global AI community since Huawei first announced it in April. Industry analysts view it as a direct competitor to Nvidia's GB200 NVL72, the U.S. chipmaker's most advanced system-level product currently available in the market. Dylan Patel, founder of semiconductor research group SemiAnalysis, said in an April article that Huawei now had AI system capabilities that could beat Nvidia. Huawei staff at its WAIC booth declined to comment when asked to introduce the CloudMatrix 384 system. A spokesperson for Huawei did not respond to questions. Huawei has become widely regarded as China's most promising domestic supplier of chips essential for AI development, even though the company faces US export restrictions. Nvidia CEO Jensen Huang told Bloomberg in May that Huawei had been "moving quite fast" and named the CloudMatrix as an example. The CloudMatrix 384 incorporates 384 of Huawei's latest 910C chips and outperforms Nvidia's GB200 NVL72 on some metrics, which uses 72 B200 chips, according to SemiAnalysis. The performance stems from Huawei's system design capabilities, which compensate for weaker individual chip performance through the use of more chips and system-level innovations, SemiAnalysis said. Huawei says the system uses "supernode" architecture that allows the chips to interconnect at super-high speeds and in June, Huawei Cloud CEO Zhang Pingan said the CloudMatrix 384 system was operational on Huawei's cloud platform.


Economic Times
42 minutes ago
- Economic Times
Stock market update: Nifty IT index falls 0.71%
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price