Japan stocks mixed as Nikkei slips and Topix rises
Nikkei 225 fell 0.3% toward 66,000 while Topix rose 0.4% to 4,128 in mixed trade. US PCE prices rose more than expected in July, keeping US rate expectations cautious.
The Nikkei 225 Index fell 0.3% toward 66,000 while the broader Topix Index rose 0.4% to 4,128 in mixed trade on Thursday, as Japanese shares struggled for direction despite Nvidia’s robust sales outlook providing fresh evidence that spending on AI infrastructure is likely to remain strong.
Japanese technology companies are deeply involved in the global AI infrastructure buildout, which has been a major driver of the country’s equity rally over the past year.
Meanwhile, data released Wednesday showed US PCE prices rose more than expected in July and remained well above the Federal Reserve’s target, reinforcing expectations for a cautious outlook on US interest rates.
Among individual stocks, notable gains came from Kioxia Holdings (6.4%), Fujikura (3.5%) and Ibiden Co (2.3%), while Advantest (-1.3%), Nintendo (-1%) and JX Advanced Metals (-0.8%) posted losses.