Tokyo, Nov. 9 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average rebounded sharply on Monday morning, after plunging last week amid a sell-off that mainly hit semiconductor-related issues. The index of 225 major stocks listed on the Tokyo Stock Exchange’s Prime section rose to as high as 59,440.18 at 11:27 a.m., up 2,005.41 points, or 3.49 pct, from Friday’s closing. It ended the morning session at 59,411.34, up 1,976.57 points, or 3.44 pct. The broader TOPIX index also surged, finishing the morning up 126.84 points, or 3.42 pct, at 3,834.83. Last week, the key index gave up 5,855.34 points, the largest-ever weekly drop, amid fears over the possibility that regulations on artificial intelligence would be tightened in the United States following the Democrats’ sweeping victory in the U.S. midterm elections. An official of a major securities firm said that “a wide range of issues are attracting purchases” on Monday following last week’s plunge. The official, however, said concerns that the Democrats would introduce tighter AI regulations “still remain” among market participants, with technology investor SoftBank Group succumbing to selling. END [Copyright The Jiji Press, Ltd.]
