Nikkei edges higher amid tech rally
The Nikkei was up 0.12% at 39,507.28 by the midday break. The index rose as much as 0.46% earlier in the session, buoyed by gains in Nasdaq futures during Asia trade.
The US stock futures index advanced after AI chip giant Nvidia said it will resume sales of its H20 graphics processing unit (GPU) chips to China. The broader Topix edged 0.05% higher to 2,824.15.
'The Nasdaq's gains were a positive cue for the Nikkei, but the gains of the Nikkei were limited as the market awaited US price data and the outcome of the national election,' said Takamasa Ikeda, senior portfolio manager at GCI Asset Management. Global investors also await US consumer price data for June, due later in the day, and will monitor for any upward pressure on prices from tariffs.
In Japan, markets are wary of a potential defeat for the Liberal Democratic Party and its coalition partner Komeito in the upcoming upper house election on July 20.
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