Japan's Nikkei share average closed little changed on Tuesday, as gains in chip-related stocks offset declines by heavyweights such as Uniqlo-owner Fast Retailing and Nissan Motor. The Nikkei's three biggest supports were in the semiconductor sphere, led by chipmaking-equipment giant Tokyo Electron, as they tracked a record rally in U.S. peer Nvidia. However, Nissan slumped nearly 4% after an update to its medium-term business plan that underwhelmed investors.
Japan's Nikkei share average oscillated between small gains and losses on Tuesday, as gains in chip-related stocks offset declines by heavyweights such as Uniqlo owner Fast Retailing and Nissan Motor. Three of the Nikkei's four biggest supports were in the semiconductor sphere, led by chipmaking-equipment giant Tokyo Electron, as they tracked a record rally in U.S. peer Nvidia. However, Nissan slumped more than 4% after an update to its medium-term business plan post a market close on Monday that underwhelmed investors.
Many semiconductor-related shares had outsized losses, after Nvidia's annual developer conference failed to provide fresh momentum for the global artificial intelligence-centred chip stock rally. Energy shares were the top performers, after a 2% jump in crude oil prices overnight. The Nikkei slipped 0.8% to 39,429,73, as of 0130 GMT, giving up some of Monday's 2.7% surge, when investors cheered media reports offering further insight on what BOJ policymakers would do on Tuesday.