Japan’s Nikkei share average slipped from a record high to end lower on Tuesday, as investors weighed Wall Street’s muted overnight finish, raising concerns that markets have advanced too far, too fast.
The Nikkei index closed 0.38% lower at 43,546.29, after rising to a record high of 43,876.42 earlier in the session.
The broader Topix also gave up early gains to end 0.14% lower at 3,116.63.
“Caution about the fast-pitched rally prompted investors to book profits,” said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
“Sentiment is strong so if the market sees any positive cues, the momentum will be back,” he said.
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Wall Street’s main indexes closed roughly flat on Monday, after struggling for direction as investors awaited the Federal Reserve’s annual symposium in Jackson Hole. Investors will monitor the conference, held from August 21-23, where Chair Jerome Powell is expected to speak. It could offer more clarity on the U.S. economic outlook and the Fed’s policy framework. Central banks’ policies will be key for the Nikkei in the coming sessions as there are expectations that the Bank of Japan may raise interest rates at its September policy meeting, said Takamasa Ikeda, a senior portfolio manager at GCI Asset Management. SoftBank Group reversed early gains to end 4% lower on Tuesday, becoming the biggest drag for the Nikkei, following news that the Japanese technology investor is taking a $2 billion equity stake in Intel.
SoftBank shares have surged 36% so far this month, far outpacing the Nikkei’s 9.2% gain.
Uniqlo-brand owner Fast Retailing slipped 1.26%.
Bucking the trend, chip-making equipment maker Tokyo Electron rose 0.83%. Drugmaker Chugai Pharmaceutical jumped 4.46%, providing the biggest boost to the Nikkei.
The federal government has rejected the Engineering Development Board’s (EDB) request for tax exemptions on imported parts of electric bikes, sources told.
As a result, customs duty on EV bike components, previously set at 1 percent, could now increase to between 30 and 35 percent.
According to sources, Prime Minister Shehbaz Sharif was briefed on the launch of the EV bike scheme based on incorrect figures. The move is expected to impact the prices and overall structure of the scheme, which had earlier benefited from concessions on batteries, motors, chargers and converters since July 1, 2020.
Officials said that under the Auto Industry Development Policy 2021–26, an application for extension of these tax concessions was supposed to be submitted ahead of the federal budget. However, with the rejection, the industry is now bracing for higher costs.
Meanwhile, the EDB has been functioning without a permanent CEO for the past 14 months and without a board for over a year following the resignation of its chairman. Despite EDB rules limiting ad hoc appointments to two months, Khuda Bakhsh Ali has been serving as acting CEO for over a year.
The lack of leadership has left the EDB struggling with governance challenges. Sources further revealed that the Motor Vehicle Industry Act was prepared without the board’s approval, underscoring the institution’s weakened role in policymaking.
Amazon has officially confirmed that the Amazon Appstore will no longer be available on Android devices, marking a major change in the company’s mobile software strategy.
The closure of the Amazon Appstore reflects Amazon’s decision to focus more on its hardware ecosystem instead of competing with Google’s Play Store. According to a company notice, applications downloaded from the Amazon Appstore will not be guaranteed to function on Android devices once the store is shut down on August 20, 2025.
Amazon warned that apps installed through its store could become unstable and pose security risks, since they will no longer receive regular updates or patches. To minimize potential issues, the company has advised users to uninstall such apps and, where possible, reinstall them through the Google Play Store.
Amazon Coins Program to Be Discontinued
As part of this move, Amazon will also discontinue its Amazon Coins program on the same date. Customers who still hold unused Coins will be eligible for refunds, though the company has not yet shared specific details about the refund process.
For Android users, the Google Play Store remains the most secure marketplace. It integrates directly with the Android operating system and includes Google Play Protect, which scans apps continuously for harmful activity.
Industry experts highlight that this decision comes as Google strengthens its stance on third-party app stores through its new Advanced Protection Mode. While Amazon had long been seen as a trusted alternative, its withdrawal signals further consolidation around Google Play as the dominant Android app platform.
Honda Atlas Cars Limited (HCAR), a subsidiary of Honda Motor Co., Ltd, has announced plans to launch a hybrid vehicle in Pakistan equipped with Honda Sensing, the company’s advanced driver-assistance system.
The development was shared by HCAR President and CEO Masaya Wakuda during the automaker’s annual general meeting (AGM).
Addressing shareholder concerns about the absence of hybrid options in Honda’s local lineup, Wakuda emphasized that the company has long been a global leader in hybrid technology, particularly in the United States, and is now preparing to bring that expertise to Pakistan.
“In addition to introducing Honda’s hybrid technology, the new model will feature Honda Sensing, offering drivers advanced safety and assistance functions,” Wakuda said.
The announcement comes as competition in Pakistan’s hybrid segment intensifies. Toyota Pakistan recently revealed its plan to invest $100 million in hybrid technology over the next few years, positioning itself as an early mover in the market.
During the AGM, shareholders also expressed concerns about the government’s decision to allow the import of second-hand cars up to five years old. HCAR’s chairman noted that while such imports are permitted under specific conditions, the policy could drive up prices of reconditioned cars while also contributing additional revenue to the government.
The company further confirmed that Pakistan’s current Automobile Policy will remain valid until June 2026, providing some regulatory clarity for the industry.
TOKYO, Aug. 19 (Xinhua) — Tokyo stocks retreated from record highs on Tuesday after selling pressure emerged as investors grew cautious about overheating.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, went down 168.02 points, or 0.38 percent, to close at 43,546.29.
SoftBank Group, which announced an investment in U.S. chipmaker Intel, initially surged to fresh post-split record highs. However, the stock later reversed course, shaving about 135 points off the Nikkei that weighed heavily on the broader market.
Game-related shares, including Nintendo, which had recently hit record highs, also saw notable declines.
Optimism over a potential U.S. Federal Reserve rate cut in September and easing concerns about corporate earnings further supported the advance.
The broader Topix index fell 4.33 points, or 0.14 percent, to close at 3,116.63.
On the Tokyo Stock Exchange Prime Market, 1,055 gained, 511 declined, and 54 were unchanged. ■
Nvidia is developing a new AI chip for China based on its latest Blackwell architecture that will be more powerful than the H20 model it is currently allowed to sell there, two people briefed on the matter said.
U.S. President Donald Trump last week opened the door to the possibility of more advanced Nvidia chips being sold in China. But the sources noted U.S. regulatory approval is far from guaranteed amid deep-seated fears in Washington about giving China too much access to U.S. artificial intelligence technology.
The new chip, tentatively known as the B30A, will use a single-die design that is likely to deliver half the raw computing power of the more sophisticated dual-die configuration in Nvidia’s flagship B300 accelerator card, the sources said.
A single-die design is when all the main parts of an integrated circuit are made on one continuous piece of silicon rather than split across multiple dies.
The new chip would have high-bandwidth memory and Nvidia’s NVLink technology for fast data transmission between processors, features that are also in the H20 – a chip based on the company’s older Hopper architecture.
The chip’s specifications are not completely finalized but Nvidia hopes to deliver samples to Chinese clients for testing as early as next month, said the sources who were not authorized to speak to media and declined to be identified.
Nvidia said in a statement: “We evaluate a variety of products for our roadmap, so that we can be prepared to compete to the extent that governments allow.”
“Everything we offer is with the full approval of the applicable authorities and designed solely for beneficial commercial use,” it said.
The U.S. Department of Commerce did not respond to a Reuters request for comment.
Flashpoint
The extent to which China, which generated 13% of Nvidia’s revenue in the past financial year, can have access to cutting-edge AI chips is one of the biggest flashpoints in U.S.-Sino trade tensions.
Nvidia only received permission in July to recommence sales of the H20. It was developed specifically for China after export restrictions were put in place in 2023, but the company was abruptly ordered to stop sales in April.
Trump said last week he might allow Nvidia to sell a scaled-down version of its next-generation chip in China after announcing an unprecedented deal that will see Nvidia and rival AMD give the U.S. government 15% of revenue from sales of some advanced chips in China.
A new Nvidia chip for China might have “30% to 50% off”, he suggested in an apparent reference to the chip’s computing power, adding that the H20 was “obsolete”.
U.S. legislators, both Democratic and Republican, have worried that access to even scaled-down versions of flagship AI chips will impede U.S. efforts to maintain its lead in artificial intelligence.
But Nvidia and others argue that it is important to retain Chinese interest in its chips — which work with Nvidia’s software tools — so that developers do not completely switch over to offerings from rivals like Huawei.
Huawei has made great strides in chip development, with its latest models said to be on par with Nvidia in some aspects like computing power, though analysts say it lags in key areas such as software ecosystem support and memory bandwidth capabilities.
Complicating Nvidia’s efforts to retain market share in China, Chinese state media have also in recent weeks alleged that the U.S firm’s chips could pose security risks, and authorities have cautioned Chinese tech firms about purchasing the H20. Nvidia says its chips carry no backdoor risks.
Nvidia is also preparing to start delivering a separate new China-specific chip based on its Blackwell architecture and designed primarily for AI inference tasks, according to two other people familiar with those plans.
Reuters reported in May that this chip, currently dubbed the RTX6000D, will sell for less than the H20, reflecting weaker specifications and simpler manufacturing requirements.
The chip is designed to fall under thresholds set by the U.S. government. It uses conventional GDDR memory and features memory bandwidth of 1,398 gigabytes per second, just below the 1.4 terabyte threshold established by restrictions introduced in April that led to the initial H20 ban.
Nvidia is set to deliver small batches of RTX6000D to Chinese clients in September, said one of the people.
KUALA LUMPUR (Aug 19): Palm oil prices are expected to hold above RM4,300 ringgit per metric tonne (US$1,018) in the near term on a supply slowdown and a cut in soybean availability amid demand for biodiesel, the Malaysian Palm Oil Council (MPOC) said on Tuesday.
Crude palm oil prices were at RM4,607 per metric tonne on Tuesday, as of 0600 GMT.
MPOC said the price’s sustainability at its estimated level will depend on palm oil’s competitiveness against soybean oil in the export market. Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market.
The US Department of Agriculture projects that more than half of the country’s soybean production will be used domestically for biodiesel in 2026, MPOC said.
“US soybean oil exports are forecast to drop from 1.15 million tonnes in 2025 to just 310,000 tonnes in 2026.”
Brazil’s soybean oil exports may also struggle to expand as it raised its biodiesel blend to 15% from 14%.
“As a result, the global market will increasingly rely on Argentine supplies to cover the shortfall. This tightening in export availability is likely to support vegetable oil prices,” it said.
Meanwhile, Indonesia’s plans to raise its biodiesel mandate to 50% in 2026, if implemented, will further tighten palm oil supplies as its requirement will jump to 16 million tonnes from 13 million tonnes in 2025, it added.
MPOC doesn’t expect a major build-up in September and October palm oil stocks, adding that any downturn in production in Peninsular Malaysia is expected to cap national production growth for the rest of the year.
Demand from India is expected to remain firm as importers stock up ahead of the Diwali festival, while demand from Africa is also projected to remain steady.
