Sign up for the Next Japan newsletter, for an inside view of the forces reshaping Japan, and what’s next for its businesses, markets and consumers.
Japanese stocks rose, driven by tech and chip shares, following a surge in AI and semiconductor-related names in the US on Friday. Signs of stabilizing interest rates also helped assure investors.
SoftBank Group Corp. contributed the most to the Topix Index gain, increasing as much as 7.3%. Tech stocks fueled the advance, mirroring a climb in a US semiconductor-related stock gauge.
“A sign of stabilization in yields will help lift high-tech shares, particularly semiconductor-related stocks,” said Shoji Hirakawa, chief global strategist at Tokai Tokyo Intelligence Lab. Still, Hirakawa said investors are likely to focus on US PPI and CPI later this week, making it harder for the market to move decisively.
US Treasury yield rises were limited even after the stronger-than-anticipated job data Friday, he said.
You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance.
This story was produced with the assistance of Bloomberg Automation.
This article was generated from an automated news agency feed without modifications to text.
