2 hrs ago
Japanese Stocks Rise as Tech, Chip Shares Follow US Gains
Japanese stocks went up after technology and chip companies gained in the United States.
Investors were especially interested in companies connected to artificial intelligence and semiconductors.
SoftBank Group Corp.
was one of the biggest contributors to the rise.
Its shares increased by as much as 7.3 percent.
Investors also felt more confident because interest rates appeared to be stabilizing.
Stable rates can make technology stocks more attractive.
However, markets may wait for new US inflation data before making a stronger move.
That data includes producer-price and consumer-price reports expected later in the week.
Japanese stocks advanced as technology and semiconductor shares followed gains among US peers.
SoftBank Group Corp. contributed most to the Topix Index’s increase, rising as much as 7.3%.
Investors were encouraged by signs that interest rates and bond yields were stabilizing.
A strategist said stable yields could support high-tech and semiconductor-related stocks.
Upcoming US producer- and consumer-price data may make it harder for markets to move decisively.
- Who
- Japanese stock investors, technology and semiconductor companies, SoftBank Group Corp., and strategist Shoji Hirakawa.
- What
- Japanese stocks advanced, led by technology and chip shares.
- Where
- Japan, following movements in US markets.
- When
- After gains in US markets on Friday and ahead of US inflation data later in the week.
- Why
- Technology and semiconductor shares followed US peers, while signs of stabilizing interest rates supported investor confidence.
Key facts
- Market
- Japanese stocks rose, with technology and semiconductor shares leading the advance.
- Topix contributor
- SoftBank Group Corp. contributed the most to the Topix Index gain.
- SoftBank move
- SoftBank Group Corp. increased as much as 7.3%.
- US influence
- Japanese technology and chip shares followed a surge in US artificial-intelligence and semiconductor-related stocks.
- Interest rates
- Signs of stabilizing interest rates and limited US Treasury yield increases supported investor sentiment.
- Upcoming data
- Investors are expected to focus on US producer-price and consumer-price data later in the week.
Quotes
Shoji Hirakawa
Chief global strategist at Tokai Tokyo Intelligence Lab
“A sign of stabilization in yields will help lift high-tech shares, particularly semiconductor-related stocks”
livemint.com
Sources
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