Japan's Nikkei Stock Average rose on Tuesday, propelled by a rebound in technology shares that helped the index achieve a record quarterly gain.
The benchmark Nikkei 225 index advanced 0.86% to close at 70,062.32 points. From April through June, the index surged by 37%, marking its largest quarterly increase since data became available in 1965. The broader Topix index gained 0.73% to finish at 4,010.88 points.
The Nikkei's rise followed an overnight rebound in U.S. stocks, where the Nasdaq Composite climbed 2.04% as major technology shares recovered and geopolitical concerns eased after the U.S. and Iran agreed to resume talks. Data released Tuesday morning showed Japan's industrial production grew 0.5% month-over-month in May, falling short of expectations but still indicating resilience in the manufacturing sector.
The Nikkei index experienced fluctuations during the session, closing with a mixed performance as 104 constituents rose and 121 fell.
"While we are seeing a rebound today in some semiconductor-related and AI-related stocks that had fallen significantly recently, the overall market remains weak," said Maki Sawada, a stock strategist at Nomura Securities.
The top gainers within the index were Taiyo Yuden Co Ltd, which rose 8.28%; Furukawa Electric Co Ltd, up 7.04%; and Screen Holdings Co Ltd, which climbed 6.20% to a record high.
The largest decliners were NEC Corp, down 3.01%; Nitori Holdings Co Ltd, falling 2.74%; and Konica Minolta Inc, which declined 2.31%.
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