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Sign up for the Next Japan newsletter, for an inside view of the forces reshaping Japan, and what’s next for its businesses, markets and consumers.Japan’s Nikkei 225 climbed as tech stocks followed their US peers higher after Friday’s rally. Gains on the broader Topix were smaller as concerns about the yen and bond yields limited risk appetite. Chip-gear makers Lasertec Corp., Kioxia Holdings Corp. and Tokyo Electron Ltd. were among the Nikkei’s best performers, along with OpenAI investor Softbank Group Corp. The gains came after the closely-watched SOX Index rose 3.4% on Friday. “The Nikkei is feeling a considerable tailwind from the strength of the SOX,” said Hiroshi Namioka, chief strategist at T&D Asset Management. The tech sector is drawing buying despite hotter-than-expected US jobs data fueling more worries about rate hikes, as many shares look attractive after their recent drawdown, he said.“The sense that chip stocks are overvalued is fading now that their prices have come down from the previous rally,” Namioka said. ChatGPT maker OpenAI announced the rollout of its new Astra model on Friday, delivering a boost to AI-related shares in the US. South Korean chipmakers SK Hynix Inc. and Samsung Electronics Co. also climbed on Monday morning.Gains on the broader Topix were more muted, with declines in banks and services weighing on the gauge. Uncertainty surrounding the yen’s trajectory and elevated bond yields is likely to keep investors on high alert until the Bank of Japan’s policy meeting next week, said Namioka. Financial shares may be particularly difficult to buy ahead of BOJ board member Kazuyuki Masu’s remarks, expected on Thursday in Tokyo, he added.ADVANCERSDECLINERSINSIGHTSRELATED NEWSYou want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance.This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.This article was generated from an automated news agency feed without modifications to text.
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