Japan's Nikkei on track for best week in 5 months despite Nvidia turmoil

Japan’s Nikkei was heading for its strongest weekly performance in five months on Friday, after rising 1.25% to 61,576.91 by 0140 GMT. The advance put it on course for a 7.3% weekly gain, while the broader Topix climbed 0.63% to 3,962.08 and was set for an increase of about 7%.

Business Recorder reported that upbeat corporate earnings and renewed confidence in artificial intelligence helped lift Japanese shares, with semiconductor companies leading the move. Advantest rose 5.9%, Tokyo Electron gained 3% and Kioxia added 2.9%, despite an overnight decline in Nvidia shares that weighed on US stocks. Broadcom and Alphabet advanced, while reports concerning Nvidia chief executive Jensen Huang prompted questions about the company’s direction and US chip exports to China.