Nov 20, 2024 at 7:06 am GMT
Updates for market close
By Brigid Riley
TOKYO (Reuters)-Japan's Nikkei share average fell on Wednesday as caution set in ahead of U.S. AI darlingNvidia'sresults and outlook later in the day, which some fear could be below market expectation.
The Nikkei.N225finished 0.2% lower at 38,352.34, while the broader Topix. TOPX closed down 0.4% at 2,698.29.
Nvidia NVDA .O, the world's most valuable company, will report its third-quarter earnings after Wall Street closes on Wednesday, a key demand test for chips and the sustainability of the AI euphoria.
Nvidiaoptionsimplied an 8.5% swing for the shares in either direction following the results, according to data from options analytics service ORATS.
"Owing to the company's massive size, (that) will influence how futures trade after Wall Street's cash close and cause ripple effects going into the Asian open tomorrow morning," said Kyle Rodda, senior financial market analyst at Capital.com.
In Japan, many major chip-related shares edged down despite their U.S. peers rising on Tuesday ahead of Nvidia's results, although losses narrowed during afternoon trade..N
Tokyo Electron8035.Tfell 0.6% to become the second-biggest drag on the Nikkei, behind insurance firm Tokio Marine Holdings8766.T, which fell 7%.
AI-focused startup investor SoftBank Group9984.Tshed 0.4%.
Meanwhile, Advantest6857.T, which counts Nvidia among its customers, rebounded to add 1.1%.
Shares ofSeven & I Holdings3382.Tjumped 6.5% following a report that the founding family was aiming to take the retailer private this financial year.
Tech and entertainment conglomerate Sony Group6758.Tgained 2.8%. Reuters reported on Tuesday that Sony wasin talksto acquire the publishing, anime and gaming powerhouse Kadokawa Corp9468.T. Shares ofKadokawafinished up about 16% on Wednesday.
Among other individual stocks, Tokyo Gas9531.Tsurged as much as 15% after aregulatory filingshowed on Tuesday that U.S. activist investor Elliott Management had taken a 5.03% stake in the company. It ended up 13% to become the biggest percentage gainer in the Nikkei.
 Reporting by Brigid Riley; Editing by Subhranshu Sahu 

Sumber : Reuters