Japanese Shares Climb as Tech, Banks Lead Gains

Japanese Shares Climb as Tech, Banks Lead Gains

The Nikkei 225 Index jumped 2.4% to close at 69,947 on Monday, reaching a three-month high as technology and financial stocks led the rally.

Japanese equities also followed gains on Wall Street Friday after weaker-than-expected US jobs data reduced pressure on the Federal Reserve to raise interest rates further.

Still, investors remained cautious amid elevated bond yields and heightened uncertainty in the Middle East. In corporate news, SoftBank Group Corp. chief Masayoshi Son, a strong supporter of AI, said he remains concerned about safety risks as machines rapidly develop new capabilities, while calling on countries to build trust and cooperate to harness the technology.

Gains among technology and banking stocks were led by Advantest (4.3%), SoftBank Group (3%), Tokyo Electron (5.5%), Mitsubishi UFJ (2%) and Sumitomo Mitsui (1.6%).