Asian Stocks: Japanese stocks closed up 448 points or 0.8%, with semiconductor stocks leading the gains and trading companies rebounding

Japanese stocks rebounded, supported by the positive performance of US stocks on the night of the 26th and the rise of the Asia-Pacific stock markets, with semiconductor stocks leading the gains. The Nikkei average opened down 37 points, initially dropping 247 points to a low of 52,637 points before recovering, closing the day near the high at 53,333 points, up 448 points or 0.8%.

In the artificial intelligence and semiconductor sectors, Advantest (6857.JP) and Kioxia (285A.JP) rose by 5.9% and 5.7%, respectively, while Discus (6146.JP) and Raytech (6920.JP) increased by 3.7% and 3.4%. Tokyo Electron (8035.JP) rose by 2.5%, while SoftBank (9984.JP) fell by 0.3%. Wire stocks such as Furukawa Electric (5801.JP), Sumitomo Electric (5802.JP), and Fujikura (5803.JP) rose by 2% to 2.6%, while heavy industry stocks Mitsubishi Heavy Industries (7011.JP) and Kawasaki Heavy Industries (7012.JP) fell by 0.2% and 0.1%. Industrial robot manufacturer Fanuc (6954.JP) dropped by 0.8%.

In other stocks, Fast Retailing (9983.JP) fell by 0.6%, while automotive stocks Toyota (7203.JP) and Nissan (7201.JP) declined by 0.5% and 1.8%, respectively. Sony (6758.JP) and Shiseido (4911.JP) fell by 1.6% and 2.8%. Trading companies Marubeni (8002.JP), Sumitomo Corporation (8053.JP), and Mitsubishi Corporation (8058.JP) rebounded by 2.5% to 3.3%. Electric power stock Tokyo Electric Power Company (9501.JP) fell by 7.9% after the company announced plans to cut costs by $20 billion over the next 10 years. Banking stock Mitsubishi UFJ Financial Group (8306.JP) rose by 1.5%.

Glico (2206.JP) major shareholder, the American investment fund Dalton Investments, expressed intentions to privatize the company, leading to an 8.8% surge in Glico's stock price.

The exchange rate of the US dollar against the Japanese yen is reported at 154.47