TOKYO: Japan’s Nikkei share average rose on Tuesday as markets reopened after a holiday and investors seized on bargains following the gauge’s steepest weekly selloff in more than a year.
The benchmark Nikkei 225 advanced 3.26 percent to close at 66,232.19, recovering part of its 6.4 percent plunge last week. The broader Topix climbed 2.44 percent to 4,014.95.
While Japanese markets were closed on Monday, Wall Street indexes edged lower as an escalation in the US-Iran conflict put upward pressure on oil prices. The Nikkei accelerated gains in the afternoon on Tuesday, taking cues from the tech-heavy Kospi share gauge in South Korea.
Investor attention is now turning to second-quarter results due later this week from AI bellwethers including Alphabet, Tesla and Intel. Earnings for S&P 500 companies in the semiconductor and related sectors are forecast to rise 133 percent for the second quarter from a year ago, according to LSEG.
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