Japan's Nikkei wavers as lower bond yields offset Broadcom hit

TOKYO: Japan’s Nikkei share average struggled for direction on Thursday, as investors weighed lower bond yields and oil prices against a drop in Broadcom shares. The Nikkei 225 Index was last up 0.21% at 64,461.68 after swinging between gains and losses. The broader Topix climbed 0.91% to 4,118.68. Major US stock indexes advanced overnight, but Broadcom shares fell more than 3% in extended trade at one point after the California-based chip and infrastructure software company forecast quarterly revenue below Wall Street estimates. The Broadcom share moves “could cap gains in semiconductor-related stocks that tend to drive the Nikkei,” Ryotaro Sawada, senior analyst at Tokai Tokyo Intelligence Laboratory, said in a note. Japanese chip- and AI-related shares were mixed. Chip-testing equipment maker Advantest fell 0.8% and cable and optical fibre producer Fujikura lost 1.79%, while memory chipmaker Kioxia rose 0.67% and semiconductor equipment maker Tokyo Electron gained 0.81%. US Treasury yields slipped from multi-year highs overnight, while 30-year Japanese government bond yields dropped as much as 10 basis points on Thursday. Oil prices edged lower with no signs of fresh strikes in