Nikkei wavers near flat as AI shares fall before Nvidia results
What's new: Fujikura fell 3.5% and SoftBank lost 3.3%, while rising bond yields added pressure ahead of a possible BOJ rate hike in September.
Japan's Nikkei swung between gains and losses Monday before edging up 0.2% to 65,900.95, as AI-linked stocks weakened ahead of Nvidia's earnings later this week. Fujikura dropped 3.5% and SoftBank Group slid 3.3%, while Tokyo Electron rose 2.1% and the broader Topix added 0.1%. Investors were also contending with higher Japanese government bond yields, inflation concerns and uncertainty in the Middle East. Market participants expect the Bank of Japan to raise interest rates at its next policy meeting in September. Nvidia is due to report on Wednesday after Bloomberg reported the company told some large customers AI server prices would rise by more than 15% because of memory costs.