Japan's benchmark index climbed 1.33 percent to 65,883.41 by the midday break Thursday, its first full session after a holiday shutdown, as a Meta Platforms hardware unveiling sent semiconductor-linked shares soaring. The broader Topix added just 0.12 percent to 4,096.01, restrained by a selloff in bank stocks that accompanied a jump in sovereign yields to three-decade highs.
Meta gadget ignites chip rally
Ibiden jumped 15.47 percent after Mark Zuckerberg introduced Meta Charm, a handheld device built around the company's new Muse artificial intelligence assistant. The announcement pulled Socionext, Meiko Electronics and Ushio Inc up more than 10 percent each, placing all four among the five largest gainers on the Prime Market. Advantest rose 4.09 percent, contributing the most points to the Nikkei's advance, while SoftBank Group edged up 0.52 percent.
Yields hit 1996 levels, banks take the hit
The technology rally unfolded even as the 10-year Japanese government bond yield climbed to 3.055 percent, its highest since August 1996, tracking a selloff in U.S. Treasuries. Higher yields pressured financial shares: Mitsubishi UFJ Financial Group fell 1.08 percent, Sumitomo Mitsui Financial Group declined 1.60 percent and Mizuho Financial Group slipped 2.02 percent. The yen's overnight weakening against the dollar added to inflation concerns cited by investors.
Internals show narrow leadership
The Topix value index dropped 0.2 percent while the growth index gained 0.48 percent, reflecting the day's sector divergence. Of more than 1,500 issues traded on the Prime Market, 53 percent advanced, 43 percent declined and 3 percent finished unchanged, a breadth reading that underscores how concentrated the gains were in a handful of chip-exposed names.