Japan's Nikkei was up 1.25% at 61,576.91 and on track for a 7.3% weekly gain, its strongest in five months, as earnings and renewed AI optimism lifted shares despite Nvidia-related turmoil. Topix gained 0.63% and was headed for a roughly 7% weekly rise.
The Nikkei rose 1.25% to 61,576.91 on Friday, putting it on course for a 7.3% weekly gain, its largest since the week of June 15. The broader Topix advanced 0.63% to 3,962.08 and was headed for a roughly 7% weekly gain, its strongest since mid-August 2024.
Semiconductor stocks led the advance, with Advantest gaining 5.9%, Tokyo Electron rising 3% and Kioxia adding 2.9%. The gains followed an overnight selloff in Nvidia shares that dragged down U.S. stocks, while Broadcom and Alphabet rose.
Nomura Securities equities strategist Maki Sawada said the rise in semiconductor- and AI-related shares, which had been under pressure for a relatively long period, appeared to be a factor behind the week's gains. Reports surrounding Nvidia CEO Jensen Huang's departure also raised questions about the company's future direction and U.S. chip export policy and access to China.
