TOKYO: Japan’s Nikkei share average ended higher after choppy trade on Tuesday, as investors bought shares that would benefit from growth in artificial intelligence.
The Nikkei rose 0.52% to 62,742.57, after briefly entering negative territory.
The broader Topix climbed 0.83% to 3,872.9.
“Investors bought back chip-related stocks on dips, which helped the Nikkei to end higher,” said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory.
Earlier in the day, investors sold chip-related shares after the South Korean equity benchmark sharply fell.
But Tokyo Electron gave up early losses to end 0.14% higher. Advantest, which fell as much 1.5%, recovered most of its loss to edge 0.26% lower.
Furukawa Electric jumped 16% after the fibre optic cable maker announced a stock split. Its peer Fujikura jumped 11.6%. They became top percentage gainers on the Nikkei.
Ibiden jumped 5.7% after the maker of smartphone components raised its annual sales and profit forecasts.
Technology investor SoftBank Group rose 4.25% ahead of its quarterly results on Wednesday.
Trading houses Mitsubishi Corp and Mitsui & Co rose 4.72% and 3.88%, respectively.
Uniqlo brand owner Fast Retailing fell 3.77%, weighing the most on the Nikkei.
Of the more than 1,600 stocks trading on the Tokyo Stock Exchange’s prime market, 42% rose, 53% fell, and 3% traded flat.
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