Japan's Nikkei extends rebound as AI-related stocks advance
EWJ•Japan's Nikkei rose 2.88% to 60,471.05 on Tuesday, extending its rebound as AI-related stocks advanced. The broader Topix gained 2.27% to 3,904.67.
1. Japanese shares rebound
The Nikkei rose 2.88% to 60,471.05 by 0158 GMT, recouping most of Friday's losses over the past two sessions. The Topix gained 2.27% to 3,904.67.
2. Technology stocks advance
SoftBank Group surged 14.38%, while Advantest rose 4.93% and Tokyo Electron gained 5.66%. Kioxia jumped 7.6%; margin-buying positions in its shares fell to 48.22 million from 52.85 million a day earlier, Tokyo Stock Exchange data showed. JX Advanced Metals rose 2.2% after raising its net profit forecast for the year ending next March by 14%.
3. Other stocks fall
Toyota Motor fell 1.63% and was the biggest drag on the Topix, while Kikkoman dropped 13% and was the Nikkei's biggest percentage loser. The Nikkei had fallen nearly 6% on Friday as AI-related stocks sold off amid concerns that the US Congress could slow AI investment.
