Tokyo shaken by headwinds from Nvidia and Fed minutes

Tokyo shaken by headwinds from Nvidia and Fed minutes
Tokyo shaken by headwinds from Nvidia and Fed minutes

Tokyo (awp/afp) – The Tokyo Stock Exchange was hesitant on Thursday morning, supported by technology stocks after results beyond expectations from Nvidia but held back by the tone of the Fed’s “minutes” ruling out the possibility of rate cuts short term.

Tokyo indices have been hovering around equilibrium since the opening of the session. Around 00:50 GMT the flagship Nikkei index rose 0.41% to 38,773.55 points and the broader Topix index dropped 0.01% to 2,737.10 points.

The American semiconductor giant Nvidia, very present in the booming artificial intelligence sector, largely exceeded expectations in the first quarter and formulated ambitious forecasts for the future, causing sector values ​​to take off in Tokyo.

The mood of investors was however darkened, as on Wall Street the day before, by the publication on Wednesday of the minutes of the last meeting of the American central bank (Fed) ruling out future rate cuts, with some participants even mentioning a possible new upward movement.

Sparkling Semiconductors

Japanese stocks linked to the semiconductor industry, which had suffered the day before before Nvidia’s results, benefited from the American’s optimism: Tokyo Electron gained 1.4%, Advantest 3.16% and Screen Holdings 1.48%.

Oil in decline

The dollar was stable at 156.81 yen around 01:00 GMT against 156.80 yen on Wednesday at 21:00 GMT.

The euro appreciated slightly against the Japanese currency, to 169.78 yen against 169.70 yen the day before.

The European currency was almost stable against the greenback, at a rate of one euro for 1.0825 dollars against 1.0823 dollars on Wednesday.

Oil was in the red: around 00:50 GMT, a barrel of American WTI lost 0.57% to $77.13 and a barrel of Brent from the North Sea lost 0.44% to $81.54.

mac/ib

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