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Japan’s Nikkei falls 2% as chip shares track Nvidia declines

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by Joelgalvan


Japan’s Nikkei share average fell 2% in early trade on Friday, as chip-related stocks tracked chipmaker Nvidia’s sharp declines overnight, with Advantest tanking more than 9%.

The Nikkei fell to 37,501.24 as of 0017 GMT, while the broader Topix was down 1.2% at 2,703.57.

The S&P 500 and Nasdaq ended sharply lower overnight, weighed down by an 8.5% slump in chipmaker Nvidia after its quarterly report failed to rekindle Wall Street’s AI rally, while investors focused on data pointing to a cooling U.S. economy.

Chip-testing equipment maker Advantest, a supplier to Nvidia, tanked 9.5%, while chip-making equipment maker Tokyo Electron slipped 3.8%.

Fujikura, which makes cables for data centres, slipped 7.56%. Its peer Furukawa Electric lost 5.6%.

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Joelgalvan

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