Japan's Nikkei extends rebound as AI-related stocks advance

Japan’s Nikkei rose 2.88% to 60,471.05 on Tuesday, recovering most of the losses from Friday’s technology-led selloff over the previous two sessions, Business Recorder reported. The broader Topix gained 2.27% to 3,904.67, while AI-related shares led the advance.

SoftBank Group climbed 14.38%, with chip equipment makers Advantest and Tokyo Electron up 4.93% and 5.66%, respectively. The rally came despite Nvidia’s 4.2% overnight decline; an IwaiCosmo Securities strategist said investors viewed the issue affecting Nvidia as limited to that company. Kioxia rose 7.6%, while margin-buying positions in its shares declined to 48.22 million from 52.85 million a day earlier. JX Advanced Metals gained 2.2% after raising its annual net profit forecast by 14%; Toyota fell 1.63%, and Kikkoman dropped 13%.