The Nikkei 225 rebounded sharply in Tokyo on the 20th after losing nearly 3,900 points over the previous two sessions. The index briefly gained more than 900 points as investors bought undervalued shares across sectors, helped by falling long-term interest rates. At 11:00 a.m., the Nikkei was at 66,002.13, up 675.71 points, while TOPIX rose 39.58 points to 4,051.89. At the morning close, the Nikkei stood at 65,982.49, up 656.07 points, and TOPIX was at 4,048.72, up 36.41 points. The rebound followed a rise in the U.S. Treasury Department's buyback cap for long-term government bonds, which pushed U.S. long-term yields lower and supported Japanese equities by easing pressure on corporate borrowing costs. Buying also reflected momentum from U.S. technology-stock buybacks and a shift toward yen weakness that supported export-related shares. However, profit-taking and position adjustments weighed on selected high-valuation AI, semiconductor and electronic-component stocks, indicating a rotation toward lagging value shares. Investors are watching long-term rate trends, U.S. economic data and remarks from senior Federal Reserve officials to assess whether the technical rebound can continue.