Tokyo Stocks Close Monday with Gains
The Nikkei Stock Average, Japan's benchmark 225-issue index, rose 895.18 points, or 1.81%, closing at 50,402.39.
Meanwhile, the broader Topix index advanced 21.51 points, or 0.64%, finishing at 3,405.17.
On the market, semiconductor and artificial intelligence stocks, including Advantest and SoftBank Group, saw significant gains, fueled by optimism over rising demand. Additionally, financial sector shares, particularly bank stocks, experienced a boost amid expectations of higher profits from increased borrowing costs, analysts noted.
In a related development, Japan’s benchmark 10-year government bond yield surged to 2.100% on Monday, marking its highest level since February 1999. This rise comes amid speculation that the Bank of Japan may continue its cycle of interest rate hikes.
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