Japanese Stock Indices decline amid U.S. tariff concerns
Japanese stock indices fell on Wednesday due to concerns surrounding the upper house elections in parliament and the fate of trade negotiations with the United States, overshadowing gains made by chip-related stocks.
The Nikkei index dropped 0.09% to 39,642.4 points, fluctuating between minor gains and losses, while the broader Topix index declined 0.29% to 2,817.05 points.
Shares of Tokyo Electron and Advantest, both linked to the semiconductor sector, rose by 2.94% and 0.9%, respectively, following gains in Nvidia's stock, which surged 4%.
Nvidia's stock jumped after the AI chip leader announced plans to resume sales of its H20 AI chip to China, pushing the tech-heavy Nasdaq Composite to a record high at closing.
Meanwhile, shares of Toho, the production company behind the Godzilla film series, soared 10.06% after raising its annual net profit forecast. In contrast, Fast Retailing, the parent company of Uniqlo, fell 1.2%, putting additional pressure on the Nikkei.
Toyota Motor shares lost 0.93% despite the yen weakening to a three-month low against the U.S. dollar.
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