Japan's Nikkei gains as Meta's AI gadget launch lifts CPU-related stocks
META•Market breadth
Of more than 1,500 stocks trading on the TSE's prime market, 53% rose, 43% declined and 3% were flat.
(Reporting by Junko Fujita; Editing by Sherry Jacob-Phillips)
Yields rise as banks fall
Japan's 10-year government bond yield rose to 3.055% on Thursday, its highest point since August 1996, following a selloff of US Treasuries. The market also weighed inflation worries as the yen lost ground to the dollar overnight.
Bank shares fell, weighing on the Topix.
Shares of Mitsubishi UFJ Financial Group 8306.T fell 1.08%, Sumitomo Mitsui Financial Group 8316.T lost 1.6% and Mizuho Financial Group 8411.T slipped 2.02%.
TSE's value share index .TOPXV edged 0.2% lower, while the growth stock index .TOPXG rose 0.48%.
Meta launch lifts component makers
Shares of Ibiden 4062.T, a component maker of CPUs (central processing units), jumped 15.47% after Meta Platforms META.O unveiled Meta Charm, a device designed to use its new Muse AI assistant.
The announcement lifted shares of other CPU-related companies, said Kazuaki Shimada, chief strategist at IwaiCosmo Securities.
Socionext 6526.T, Meiko Electronic 6787.T and Ushio Inc 6925.T jumped more than 10% each, making them, along with Ibiden, four of the top five gainers on the Tokyo Stock Exchange's prime market.
Chip-testing equipment maker Advantest 6857.T rose 4.09%, providing the biggest boost to the Nikkei. SoftBank Group 9984.T edged up 0.52%.
"In recent sessions, chip-related shares tend to withstand rising yields," said Shimada.
