Global Market: Japan's Nikkei rebounds as chip stocks rise, Topix slips on bank losses

Japan’s Nikkei rebounded as chip stocks advanced, but the Topix moved lower under pressure from declining banking shares.

Chip stocks support the Nikkei

The Nikkei recovered as gains among chip-related stocks provided support to the index. The move contrasted with the broader weakness reflected in the Topix.

Banking shares pressure the Topix

Banking stocks came under pressure and became the biggest drag on the Topix. Losses in the sector outweighed the support provided by rising chip stocks, leaving the index lower.

The contrasting performance underscored the differing influence of chip and banking shares on Japan’s major market benchmarks.