Global Markets | Japan's Nikkei ends higher as AI-related shares rise

Japan's ​Nikkei share average ended higher after choppy ​trade on Tuesday, as investors bought shares that would benefit from growth in artificial intelligence.

The Nikkei rose 0.52% to 62,742.57, after ‌briefly entering ⁠negative territory.

The ⁠broader Topix climbed 0.83% to 3,872.9.


"Investors bought back chip-related stocks on dips, which helped the Nikkei to end higher," said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory.

Earlier in the day, investors sold ​chip-related shares after the South Korean ⁠equity benchmark ‌sharply fell.

But Tokyo Electron gave ​up early ​losses to end 0.14% higher. Advantest, which ⁠fell as much 1.5%, recovered most of its ​loss to edge 0.26% lower.

Furukawa Electric jumped 16% after the fibre optic cable maker announced a stock split. Its peer Fujikura jumped 11.6%. They became top percentage gainers on the Nikkei.

Ibiden jumped 5.7% after the maker of ‌smartphone components raised its annual sales and profit forecasts.

Technology investor SoftBank Group rose ​4.25% ahead of ​its quarterly ⁠results on Wednesday.

Trading houses Mitsubishi Corp and Mitsui & Co rose 4.72% and 3.88%, respectively.

Uniqlo brand owner Fast Retailing ​fell 3.77%, weighing the most on the Nikkei.

Of the more than 1,600 stocks trading on the Tokyo Stock Exchange's prime market, 42% rose, 53% fell, and 3% traded flat. (Reporting by Junko Fujita; Editing by Subhranshu Sahu and Rashmi Aich)