Japan’s Nikkei Rebounds on Strong Tech Shares

Tokyo: Japan’s Nikkei ended the day up 1.5% at 42,580.27, after the index’s lowest close since Aug. 8 on Wednesday, as domestic technology stocks led the rally.

According to Qatar News Agency, SoftBank Group extended gains throughout the session to finish as the Nikkei’s top-performing stock with a 6.5% advance. Circuitry- and optical cable-maker Fujikura jumped 5.1% to take the second place, followed by chip-testing equipment-maker Advantest, which gained 4.7%. The broader Topix rose 1% to 3,080.17.

Overnight, the tech-heavy US Nasdaq Composite advanced more than 1%, rebounding strongly from a 0.8% slide in the previous session. Other notable gainers on Thursday included heavily weighted Uniqlo chain owner Fast Retailing, up 2.5%, Sony Group, up 2.9%, and Toyota Motor, which added 1.9%. The standout decliner was Nidec, which tumbled by its limit of 22.4%.

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