August 27, 2024 at 02:16 am EDT
(MT Newswires) -- Japanese shares ended higher on Tuesday as investors awaited Nvidia's earnings report, hoping for a further boost to the AI rally.
The Nikkei 225 gained 0.47%, or 178.4 points, to close at 38,288.62.
While Nvidia is expected to report a significant increase in Q2 revenue, investors are seeking even more impressive results given the company's strong performance and the substantial investments made by tech giants like Microsoft in its AI-powered GPUs.
A miss or beat of Wall Street's expectations could significantly impact the momentum of the AI sector.
In the currency market, the yen weakened to 144.67 per dollar, retreating from a three-week high of 143.45 achieved in the previous session.
In corporate news, Tess Holdings (TYO:5074) reported a 67% drop in profit attributable to owners to 1.19 billion yen for the fiscal year ending June 30 as net sales fell 11% to 30.64 billion yen.
Meanwhile, Buyee, operated by Beenos (TYO:3328) subsidiary Tenso, has opened its sixth logistics center in Fuchu, Osaka. This new facility, Buyee's second in Kansai, aims to boost disaster resilience and operational stability.
Elsewhere, Freee K.K. (TYO:4478) will cut its capital reserve by 34.3 billion yen, reallocating the funds to other capital surpluses to address a retained earnings deficit. The adjustment is intended to enhance the company's financial standing through internal accounting measures.
Sumber : MT Newswires
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