The Nikkei 225 extended gains in morning trading on August 12, ending the session at 67,040.18, up 69.96 points, or 0.10%, from the previous business day. Buying initially focused on major AI and semiconductor-related stocks after firmness in U.S. chip shares led by Nvidia the day before, but the advance lost momentum as investors held back ahead of the July U.S. Consumer Price Index release due later that evening in Japan time. Trading stayed subdued, with many overseas and retail investors absent during the summer holiday season, leaving the benchmark moving in a narrow band around the previous close of 66,970. Market participants said a wait-and-see mood was dominating because the inflation data could materially alter expectations for the Federal Reserve (U.S. central bank) and drive moves in U.S. long-term yields and foreign exchange. TOPIX also edged higher into the lunch break. Shipping, non-ferrous metals and machinery rose, while some electric power and gas, land transportation and retail shares came under pressure. A strategist at a domestic securities firm said softer-than-expected inflation could revive hopes for an early rate cut and strengthen buying in growth stocks, while an upside surprise could trigger a sharper risk-off move.