The Nikkei 225 Index climbed 1.2% to above 64,900 on Tuesday, while the broader Topix Index advanced 0.8% to 3,950, recouping part of the previous week’s losses as investors returned from an extended holiday weekend. Technology shares led the rebound, with the recent selloff in semiconductor and artificial intelligence-related stocks showing signs of stabilizing after US chipmakers rallied overnight.
Notable gainers in Japan’s tech sector included Kioxia Holdings (up 3.4%), Advantest (0.8%), Taiyo Yuden (0.9%), Ibiden Co (3%), and Fujikura (0.9%). Financials and consumer names also advanced, with Mitsubishi UFJ rising 0.8%, Sumitomo Mitsui gaining 0.9%, and Fast Retailing adding 1.3%.
At the same time, investors kept a close watch on ongoing hostilities in the Middle East, which have pushed oil prices higher and reignited concerns over inflation and the potential for further interest rate hikes.
