Nikkei falls on profit-taking before Jackson Hole; Nvidia gains fade

The Nikkei average fell for the first time in three days on Thursday, closing 130.18 yen lower at 66,131.98 yen, as early gains from Nvidia's strong earnings were offset by profit-taking and caution ahead of the Jackson Hole symposium. The index initially rose to 66,954.69 yen, nearing the psychological 67,000 mark, driven by buying in semiconductor and AI-related stocks after Nvidia's quarterly results beat expectations. However, gains faded quickly, with the market turning negative in the morning session before investors held back ahead of Fed Chair Waller's speech. Nvidia reported May-July revenue of $96.221 billion, up 2.1-fold year-on-year, and forecast August-October revenue of $108 billion, both exceeding estimates. Trading volume was approximately 1.96 billion shares, with advancing and declining issues nearly balanced.