Asian shares showed mixed results as Tokyo’s benchmark stock index rebounded from last week’s decline.
Japan’s Nikkei 225 increased by 2.8% to 36,014.26, having surged more than 1,000 points at one stage.
Australia’s S&P/ASX 200 edged up 0.1% to 7,821.60, while South Korea’s Kospi fell 0.3% to 2,610.17.
Hong Kong’s Hang Seng remained almost unchanged, slipping less than 0.1% to 17,107.52, and the Shanghai Composite slightly rose by less than 0.1% to 2,859.62.
In Tokyo, computer chip stocks were highly sought after, with Tokyo Electron climbing 5.4%, reflecting the strong performance of tech-related companies on Wall Street.
Investors appeared encouraged by the stabilization of the recently volatile yen. While a weaker yen benefits Japan’s major exporters by increasing the value of overseas earnings in yen, it also gradually diminishes the nation’s purchasing power.
The US dollar rose to 147.30 Japanese yen from 147.17 yen. The euro was stable at $1.0936, barely changed from $1.0935.
On Wall Street, the S&P 500 ended flat, the Nasdaq Composite index gained 0.2%, and the Dow Jones Industrial Average, comprising 30 leading American companies, slipped 0.4%. MSCI’s global stock index also ended flat.
The yield on 10-year US Treasury bonds, which influences global borrowing costs, dropped to 3.9035% after a 0.15 percentage point rise last week, marking its largest increase since April.
