Nikkei ends flat as tech shares pare Nvidia-led losses

30 Aug, 2024

TOKYO: Japan’s Nikkei share average ended largely flat on Thursday, recovering from early losses, with technology stocks paring declines triggered by disappointment at Nvidia’s latest forecasts.

The Nikkei finished down 0.02% at 38,362.53, after falling as much as 1.12% earlier in the day.

The broader Topix eked out a 0.03% rise.

Chip-making equipment giant Tokyo Electron lost 1.76%, after falling as much as 3.49% earlier. Smaller peer Disco ended 2.46% lower, largely recovering from a 5.33% decline.

Chip-testing equipment maker Advantest, a supplier to Nvidia, managed to finish 0.3% higher, reversing earlier losses of 3.6%.

Nvidia’s revenue and gross margin forecasts failed to live up to their recent history of trouncing Wall Street targets, overshadowing a beat on revenue and earnings, as well as a $50 billion share buyback.

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