The Nikkei Stock Average rebounded on the Tokyo market on the 28th, closing the morning at 66,682.88, up 550.90 points, after gains briefly exceeded 600 points. The TOPIX rose 35.16 points to 4,152.38. Buying centered on artificial intelligence and semiconductor stocks, which carry significant weight in the Nikkei, after the Nasdaq Composite rose 1.57% and the Philadelphia Semiconductor Index gained 2.33% in the previous U.S. session, far exceeding the Dow Jones Industrial Average’s 0.20% advance. The market initially faced pressure from firm crude oil futures and higher U.S. long-term interest rates, while investors awaited Federal Reserve (U.S. central bank) Chair Warsh’s speech at the Jackson Hole Symposium. The Nikkei’s 25-day moving average near 66,500 was viewed as support, helping the index turn higher. Investors are watching for monetary-policy clues from the speech and will remain focused on U.S. policy expectations, foreign-exchange movements, U.S. long-term rates and the outsized influence of semiconductor shares on the Nikkei.