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Tokyo stocks rebound on bargain-hunting amid Nvidia caution
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TOKYO (Kyodo) -- Tokyo stocks bounced back Tuesday as investors scooped up recently battered shares, but gains were limited as caution dominated the market ahead of U.S. chip giant Nvidia Corp.'s earnings report.
The 225-issue Nikkei Stock Average ended up 193.58 points, or 0.51 percent, from Monday at 38,414.43. The broader Topix index finished 18.27 points, or 0.68 percent, higher at 2,710.03.
On the top-tier Prime Market, gainers were led by nonferrous metal, bank and insurance shares.
The U.S. dollar briefly dipped to the upper 153 yen range in Tokyo as the currency was sold following an overnight fall in long-term U.S. Treasury yields.
Stocks were in positive territory throughout the day, supported by gains on the U.S. tech-heavy Nasdaq index overnight and rising U.S. stock futures in the afternoon.
Bargain-hunting also lifted the market after recent declines over concerns about President-elect Donald Trump's proposed policies, such as higher tariffs, but trading remained muted amid a lack of fresh trading cues, brokers said.
Investors were awaiting Nvidia's earnings report Wednesday, with strong interest on whether the firm will release its Blackwell artificial intelligence chips early next year as scheduled after facing delays, according to Shingo Ide, chief equity strategist at the NLI Research Institute.
"The market could see a significant swing up or down depending on Nvidia, so it appears investors were in a wait-and-see mode," said Ide.
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