TOKYO: Japan’s Nikkei share average rebounded on Thursday from a nearly one-month low in the previous session, as domestic technology stocks led the rally following overnight gains among US peers.
The Nikkei ended the day up 1.5 percent at 42,580.27, after the index’s lowest close since August 8 on Wednesday.
Artificial intelligence-focussed start-up investor SoftBank Group extended gains throughout the session to finish as the Nikkei’s top-performing stock with a 6.5 percent advance.
Circuitry- and optical cable-maker Fujikura jumped 5.1 percent to take the second place, followed by chip-testing equipment-maker Advantest, which gained 4.7 percent.
The broader Topix rose 1 percent to 3,080.17.
Overnight, the tech-heavy US Nasdaq Composite advanced more than 1 percent, rebounding strongly from a 0.8 percent slide in the previous session.
Global equities were rattled this week by a sharp rise in long-term bond yields on worries about deteriorating fiscal health in major economies from the US to France, Britain, and Japan.
Markets calmed overnight, though, after soft US jobs data reinforced expectations that the Federal Reserve will cut interest rates later this month.
Rather than signalling a bearish shift in equity markets, “it would be reasonable to see this adjustment as a buying opportunity”, particularly for Japanese stocks, J.P.Morgan strategists wrote in a client note.
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