Japan: Japan's Nikkei share average concluded higher after a session of fluctuating trade on Tuesday, driven by investor interest in stocks poised to benefit from advancements in artificial intelligence.
According to Qatar News Agency, the Nikkei index experienced a 0.52 percent increase, closing at 62,742.57, despite dipping into negative territory earlier in the day. The broader Topix index also saw gains, climbing 0.83 percent to finish at 3,872.9. Tokyo Electron managed to recover early losses, ending the day 0.14 percent higher. Advantest, although it fell by as much as 1.5 percent during the session, mitigated its losses to close 0.26 percent lower.
Furukawa Electric saw a significant jump of 16 percent following its announcement of a stock split, while its peer Fujikura rose 11.6 percent, making them the top percentage gainers on the Nikkei. Ibiden benefited from an upward revision of its annual sales and profit forecasts, resulting in a 5.7 percent increase. Technology investor SoftBank Group saw its shares rise by 4.25 percent, and trading houses Mitsubishi Corp and Mitsui and Co experienced rises of 4.72 percent and 3.88 percent, respectively.
Conversely, Fast Retailing, the owner of the Uniqlo brand, fell by 3.77 percent, which had a notable negative impact on the Nikkei. Out of the more than 1,600 stocks trading on the Tokyo Stock Exchange's prime market, 42 percent saw gains, 53 percent experienced losses, and 3 percent remained unchanged.