Japanese Shares Flat in Early Trade

The Nikkei 225 Index was little changed around 70,680 on Wednesday as locked in profits after the benchmark index rallied to a three-month high. Still, equities remained supported by expectations that companies can withstand higher interest rates and energy costs, with the S&P 500 and Nasdaq Composite hitting fresh record highs overnight. Meanwhile, oil prices recovered as ongoing risks to Middle East energy flows outweighed signs of improving supply from the region. In corporate news, SpaceX was reportedly seeking to raise $40 billion to purchase Nvidia chips, strengthening the outlook for the technology sector. Among individual stocks, Fujikura (1.7%), SoftBank Group (1.6%) and Furukawa Electric (4.1%) posted notable gains, while Kioxia Holdings (-3.4%), Advantest (-1.2%) and Disco Corp (-4.8%) declined.