November 21, 2024 at 01:44 am EST
(MT Newswires) -- Japanese shares fell Thursday, weighed by Nvidia's earnings projection of its slowest revenue growth in seven quarters.
The Nikkei 225 slipped 0.89%, or 343.12 points, to end at 38,009.22.
Nvidia forecast fourth-quarter revenue of $37.5 billion, marking a growth of 69.5%, down from 94% in the prior quarter.
The company's shares climbed over 20% in two months, reaching a record intraday high Monday, with the stock nearly quadrupling this year and rising ninefold in two years, giving the company a $3.6 trillion valuation.
In corporate developments, Nippon Steel (TYO:5401) Executive VP Takahiro Mori assured United States Steel (USS) union members that the company would not import steel to the US from its international mills, Reuters reported. Nippon Steel aims to complete its $14.9 billion USS acquisition by year-end.
Japan Metropolitan Fund Investment (TYO:8953) will acquire rights for 3.2 billion yen on a hotel project near Kamakura Station, slated for January 2026 completion.
The five-story property will feature 36 guest rooms, a public bath, and a modern Japanese design, with an expected 5.3% NOI yield and variable rent upside.

Sumber : MT Newswires