Tokyo: Japan's Nikkei share average ended higher on Thursday, supported by AI chipmaker Nvidia's strong quarterly outlook.
According to Qatar News Agency, the Nikkei recovered from early losses to close 0.7% higher at 42,828.79. The broader Topix index also ended up 0.7%. The Nikkei index had opened lower but managed to bounce back as Advantest, a chip-testing equipment maker and Nvidia supplier, rebounded. Advantest closed up 1.5% after experiencing an earlier drop of 3.6%.
The benchmark index received a further boost when trading house Mitsubishi Corp announced that National Indemnity Company increased its stake to 10.23% from 9.74%. This news saw Mitsubishi's stock gain nearly 2%, while rival Mitsui and Co. rose 1.2%.
Technology investor SoftBank Group contributed significantly to the Nikkei's rise, with its shares increasing by 3.2%. Additionally, shares of chip-making equipment maker Tokyo Electron ended 2% higher.
Cable maker Fujikura, seen as an indicator for investments in the data center sector, surged 5.5%. Sompo Holdings saw a 3.3% jump after announcing its acquisition of New York-listed Aspen Insurance Holdings for approximately $3.5 billion.
Energy explorers were among the top performers on the day, rising 4% and leading the Tokyo Stock Exchange's 33 industry sub-indexes.