Japan's Nikkei wavers on earnings caution

TOKYO, July 29 (Reuters) - Japan's Nikkei share average seesawed on Wednesday, as the impact of dip-buying was offset by caution ahead of U.S. tech earnings and as investors assessed the latest developments in the Middle East.

The Nikkei .N225 was last down 0.04% to 62,337.37 after swaying between gains and losses. The broader Topix .TOPX inched up 0.33% to 3,976.55. On Tuesday, the Nikkei bluechip fell more than 4% to its lowest in two months on a chips selloff.

"The market will likely continue to be driven today by moves in AI chip-related stocks," said Maki Sawada, an equity strategist at Nomura Securities.

"Even if there is no specific catalyst, the Nikkei average could see wider intraday swings... as AI chip-related and other high-priced stocks have become more volatile ahead of earnings announcements. That pattern is likely to continue today."