Tokyo: Nikkei jumps 6%, rebounds from 1-1/2-year low on US tech boost

[TOKYO] Japan’s Nikkei share average rose 6 per cent on Tuesday in a widespread rally, rebounding from a 1-1/2-year low hit in the previous session, as local traders assessed strong performances of US technology stocks.

As of 0020 GMT, the Nikkei index was up 5.9 per cent at 32,959.59. The broader Topix traded 6.14 per cent higher at 2,428.64.

The S&P 500 and the Dow closed lower, but the technolog-heavy Nasdaq posted marginal gains on Monday after a roller coaster session, with investors worried about an economic slowdown and rising inflation as US President Donald Trump dug in his heels on tariffs, warning he could further increase levies on China.

In Japan, chip-making equipment maker Tokyo Electron jumped 8.85 per cent and chip-testing equipment maker Advantest surged 11 per cent.

Bank shares also advanced, with Mitsubishi UFJ Financial Group surging 12 per cent and Mizuho Financial Group up 13 per cent.

All 33 industry sub-indexes of the Tokyo Stock Exchange saw gains, with the banking index leading the charge, soaring 11 per cent to become the top performer. REUTERS