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Tokyo Stocks End Tuesday with Mixed Results
(MENAFN) Japanese equities closed in opposing directions Tuesday following a volatile session that saw technology optimism clash with concerns over artificial intelligence competition.
The Nikkei Stock Average, comprising 225 issues, advanced 33.64 points—a gain of 0.07 percent from Friday's close—to settle at 48,659.52.
In contrast, the wider Topix index retreated 6.84 points, shedding 0.21 percent to finish at 3,290.89.
Trading resumed after Monday's suspension due to a national holiday in Japan.
Semiconductor stocks attracted investor interest following a robust Wall Street session fueled by expectations of imminent Federal Reserve rate reductions, market analysts noted. The momentum briefly pushed the flagship Nikkei beyond the psychologically significant 49,000 threshold.
However, gains evaporated as SoftBank Group shares tumbled dramatically. The technology conglomerate faced intense selling pressure stemming from mounting apprehension about escalating rivalry in the AI industry. The concerns intensified after Google unveiled its latest Gemini generative artificial intelligence platform last week, triggering questions about competitive positioning among major tech players.
The divergent performance underscored investor uncertainty as market participants weighed Federal Reserve monetary policy optimism against sector-specific headwinds in the rapidly evolving AI landscape.
The Nikkei Stock Average, comprising 225 issues, advanced 33.64 points—a gain of 0.07 percent from Friday's close—to settle at 48,659.52.
In contrast, the wider Topix index retreated 6.84 points, shedding 0.21 percent to finish at 3,290.89.
Trading resumed after Monday's suspension due to a national holiday in Japan.
Semiconductor stocks attracted investor interest following a robust Wall Street session fueled by expectations of imminent Federal Reserve rate reductions, market analysts noted. The momentum briefly pushed the flagship Nikkei beyond the psychologically significant 49,000 threshold.
However, gains evaporated as SoftBank Group shares tumbled dramatically. The technology conglomerate faced intense selling pressure stemming from mounting apprehension about escalating rivalry in the AI industry. The concerns intensified after Google unveiled its latest Gemini generative artificial intelligence platform last week, triggering questions about competitive positioning among major tech players.
The divergent performance underscored investor uncertainty as market participants weighed Federal Reserve monetary policy optimism against sector-specific headwinds in the rapidly evolving AI landscape.
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