| The Nikkei 225 advanced 2.4% to settle at 69,947 on Monday, attaining a three-month peak propelled by advances in technology and financial equities. Japanese equities mirrored gains on Wall Street following US jobs data that undershot expectations, mitigating worries regarding additional interest rate increases by the Federal Reserve. Investor sentiment was tempered by persistent pressure from elevated bond yields and continued geopolitical concerns in the Middle East.
Technology and banking equities propelled the advance. Advantest’s shares increased by 4.3%, SoftBank Group advanced 3%, and Tokyo Electron climbed 5.5%. Mitsubishi UFJ increased by 2%, while Sumitomo Mitsui rose 1.6%.
SoftBank Group CEO Masayoshi Son expressed ongoing concerns regarding the safety implications associated with the swift advancement of artificial intelligence technology, and emphasized the need for international collaboration to foster trust and ensure the responsible application of AI. |