TOKYO, Nov 19 (Reuters) - Japan's Nikkei share average

staged a cautious rebound on Wednesday as investors remained

wary ahead of pivotal earnings from artificial intelligence

heavyweight Nvidia ( NVDA ).

The Nikkei 225 Index advanced 0.4% to 48,899.69 in

early trading, after logging its biggest drop in more than seven

months in the previous session. The broader Topix was up

0.5%.

Concerns about the valuations of technology-related

companies have rattled global equity markets. U.S. stocks ended

lower overnight, with Nvidia's ( NVDA ) shares sliding 2.8%. The company

will report quarterly results after the close in New York on

Wednesday.

Japanese tech shares rallied after steep declines, but a

surge in domestic interest rates and a diplomatic row with China

continue to weigh on sentiment, said Nomura Securities

strategist Fumika Shimizu.

"There appears to be dip-buying activity following the

Nikkei's significant drop yesterday," Shimizu said. "The focus

will be on whether (Nvidia ( NVDA )) can show revenue or profit forecasts

that exceed market expectations."

There were 155 advancers on the Nikkei against 67 decliners.

The largest gainers in the index were Furukawa Electric ( FUWAF )

, up 4.4%, followed by NEC, which gained 4%.

The biggest losers were Renesas Electronics ( RNECF ), down

4.4%, followed by Sumco ( SUMCF ), which shed 4.2%.