Price gains in technology stocks supported the stock exchanges in Japan

Price gains in technology stocks supported the stock exchanges in Japan. Meanwhile, Chinese markets headed for their biggest quarterly loss in four years.

Singapore. After the recent losses, investors on the Asian stock markets appeared forgiving on Wednesday. The stock market in Japan in particular rose, supported by gains in artificial intelligence (AI) stocks in the wake of a rally in US semiconductor stocks.

The Chinese stock markets rose only slightly and were heading for their biggest quarterly loss in more than four years. A new economic stimulus package from the government in Beijing to support the economy disappointed investors. High oil prices and bond yields have recently weighed on global stock markets.

Meanwhile, yields on the US bond market reached levels not seen in almost 25 years: 30-year US government bonds were trading at up to 5.62 percent on Tuesday, their highest level since 2002, while ten-year bonds are approaching this value and are currently at the 2007 level.

This is how the markets moved in Japan

In Tokyo, the Nikkei index rose by a good two percent to 66,832 points. Technology stocks in particular were in demand:

The shares of investor Softbank climbed more than six percent.

The papers from chip suppliers Tokyo Electron and Advantest gained three and one percent respectively.

Shares in Taiyo Yuden, a manufacturer of ceramic capacitors for AI servers, temporarily rose by nine percent after announcing a business alliance with TDK.

“However, with more stocks falling than rising in the overall market, investors were selective,” said Daisuke Hashizume, a strategist at Daiwa Securities.