Tokyo stocks rebounded sharply, recovering the ¥70,000 range. Gains in U.S. stocks spread to the Tokyo market, prompting buying of AI and semiconductor-related stocks, while Advantest and SoftBank Group rose sharply.
In Monday's Tokyo stock market, the Nikkei 225 rose approximately 2.5% from the previous day, at one point gaining more than ¥1,700 and recovering the ¥70,000 range during trading. The morning level was ¥70,046.16, up ¥1,736.70 from the previous weekend's close.
In the U.S. market, stock indexes rose, led by technology stocks, after employment data came in below expectations and reduced expectations of an FRB rate hike. This trend also accelerated price movements in AI and semiconductor-related stocks in the Tokyo market.
Advantest, a major semiconductor testing equipment manufacturer, and SoftBank Group, a major telecommunications company, rose sharply and supported the market. Buying also spread somewhat to Murata Manufacturing and other stocks, helping underpin the overall advance.
The broader market trend was one in which buying of technology stocks pushed the market higher, alongside the positive spillover from gains in U.S. stocks. Further developments will be closely watched.