The Nikkei 225 Index rose 0.4% to above 63,700 on Tuesday, snapping a two-day losing streak as select technology stocks rebounded and investors reassessed the outlook for the artificial intelligence sector. Tech shares had come under pressure on Monday after Anthropic CEO Dario Amodei urged a slower pace of AI development to mitigate potential risks.
Market participants also remained attentive to climbing oil prices and higher global bond yields, as well as looming interest rate hikes from both the US Federal Reserve and the Bank of Japan later this week.
Among notable tech gainers were SoftBank Group, up 6.3%, Taiyo Yuden, up 3.7%, and Lasertec, up 3.8%. In corporate news, Kioxia Holdings advanced 2.5% following reports that the Japanese memory chipmaker is considering raising at least $10 billion via a listing of American depositary receipts.
