Japanese Shares Rise on Tech Rebound

The Nikkei 225 Index climbed 0.4% to above 63,700 on Tuesday, ending a two-day losing streak as select technology stocks rebounded, while investors continued to evaluate the outlook for the artificial intelligence sector. Tech shares faced pressure on Monday after Anthropic CEO Dario Amodei called for a slower pace of AI development to reduce potential risks. Investors also remained focused on rising oil prices and global bond yields, alongside imminent interest rate hikes from both the US Federal Reserve and the Bank of Japan this week. Among the notable tech gainers were SoftBank Group (6.3%), Taiyo Yuden (3.7%) and Lasertec (3.8%). In corporate developments, Kioxia Holdings rose 2.5% following reports that the Japanese memory chipmaker is considering raising at least $10 billion through a listing of American depositary receipts.





