Japan's Nikkei reverses course to rise as chip shares track South Korea rebound
SMH•Shipping sector under pressure
The shipping sector .ISHIP.T, which was the top performer among the Tokyo Stock Exchange's (TSE) 33 industry sub-indexes, ended 0.91% lower.
Japanese semiconductor stocks recover
In Japan, chip-making equipment maker Tokyo Electron 8035.T and memory chipmaker Kioxia 285A.T gave up losses to rise 0.47% and 0.65%, respectively.
Chip-testing equipment maker Advantest 6857.T narrowed losses to end 0.14% lower.
The S&P 500 and Nasdaq ended lower on Monday, pulled down by technology stocks, as investors weighed fresh U.S. economic sanctions against Iran and braced for a week that also includes a closely watched inflation report.
Quarterly results from chipmaker Nvidia NVDA.O are expected to be a key catalyst for markets. Any sign of slowing growth could reignite concerns over stretched valuations.
Shares of Nvidia fell for the seventh straight session.
Nikkei ends higher after earlier losses
TOKYO, Aug. 25 (Reuters) - Japan's Nikkei share average reversed course to end higher on Tuesday, as chip-related stocks tracked a rebound of South Korean shares.
The Nikkei .N225 rose 0.5% to close at 65,856.43, after falling as much as 1.4% earlier in the session. The broader Topix .TOPX gained 0.5% to 4,093.67.
Chip shares follow South Korea's rebound
"The Topix traded higher since the open, which meant that money was flowing into Japanese stocks," said Shuji Hosoi, senior strategist at Daiwa Securities.
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