Nikkei 225 jumps 2% above 66,300 as Japan tech stocks outperform

  • Nikkei 225 and Topix advanced for a second consecutive session on Monday.
  • Nikkei 225 rose 2% above 66,300, while Topix gained 0.8% to 4,136.
  • Kioxia Holdings, SoftBank Group, Fujikura and Tokyo Electron posted gains.

The Nikkei 225 Index jumped 2% to above 66,300 on Monday, while the broader Topix Index gained 0.8% to 4,136, extending Japanese shares' advance to a second consecutive session. Technology and artificial intelligence-linked stocks led gains after U.S. chipmakers and memory stocks rallied on Friday, improving sentiment toward the sector. The broader market remained under pressure from stronger-than-expected U.S. jobs data, which increased expectations for a Federal Reserve rate hike this month. Markets also priced in a Bank of Japan rate increase at its September meeting as Japan contends with persistent inflation and a weak yen. Kioxia Holdings rose 7.2%, SoftBank Group gained 6.1%, Fujikura advanced 5.9%, Tokyo Electron climbed 5.3% and Advantest added 2.6%. Financial and consumer stocks lagged, with Mitsubishi UFJ down 0.9% and Nintendo falling 2.2%.

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