The Japanese Nikkei index rose at the start of Monday's trading, supported by buying activity after sharp losses suffered by technology stocks last week, which pushed the index into bear market territory.
Reuters reported trading data showing the index rose 2% to 58584.11 points, recovering part of its losses after falling about 6% last Friday, remaining down more than 20% compared to its all-time high recorded in June.
Rise in major indices
Meanwhile, the broader Topix index rose 2.8% to 3810.91 points, signaling the Japanese market's recovery from previous volatility.
Nvidia and Tesla shares recovered after sharp losses last week due to fears that Democratic Party victories in the US midterm congressional elections would lead to stricter regulation of artificial intelligence technologies and limits on data center spending.
Individual stock performance
The Renesas Electronics stock was the highest gainer by percentage on the index, rising 6.64%, followed by Japan Steel Works which increased 6.41%, and then Baker Corp with a rise of 5.88%, heading toward a closing record level.
In the same context, Tokyo Foodsan Holdings stock was the biggest decliner, falling 5.41%, followed by the SoftBank Group which dropped 4.73%, and then Mitsui Foodsan which declined 4.50%.
Source: Syrian Arab News Agency (SANA)
Comments (0)