Japan’s Nikkei share average reversed early gains to close lower on Thursday, influenced by a supplier, while the broader Topix experienced a slight increase due to value-buying. The index experienced a decline of 0.2%, settling at 66,131.98, following a prior increase of as much as 1%. In contrast, the broader measure saw an uptick of 0.15%, reaching 4,117.22. After semiconductor manufacturer Nvidia saw a roughly 5% increase in extended trading after predicting a 70% increase in income for the upcoming fiscal year, the Nikkei started higher. The index reversed direction as chip-testing equipment manufacturer Advantest relinquished its earlier gains to trade at a lower level.

Advantest concluded the trading session with a decline of 3.05%, positioning it as the most significant detractor from the Nikkei index. “The markets remain cautious about buying chip-related stocks after a sharp rise in the first half of this year,” Kazuaki Shimada said. “However, market sentiment is firm because the Topix rose, signalling the money was shifted to value stocks.” Banks experienced an uptick, with Mitsubishi UFJ Financial Group increasing by 0.81% and Sumitomo Mitsui Financial Group rising by 0.92%, respectively.

Fibre optic cable manufacturers Fujikura and Furukawa Electric experienced increases of 3.68% and 4.71%, respectively. Memory chip manufacturer Kioxia experienced a 5% increase. Among the more than 1,500 stocks listed on the Tokyo Stock Exchange’s prime market, 45% recorded an uptick, 49% faced a decline, and 4% maintained their position without change.