Published on 12/03/2025 at 02:20 am EST
(Reuters) - Japan's Nikkei share average rose more than 1% on Wednesday, as tech stocks tracked Wall Street's overnight gains, while the broader Topix index fell as banks lost ground after a sharp rally.
The Nikkei rose 1.14% to close at 49,864.68. The Topix slipped 0.2% to 3,334.32.
"Investors bought stocks that became cheap and sold those which had risen," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory.
Chip-related shares jumped, with technology investor SoftBank Group surging 6.38%. Chip-related Advantest and Tokyo Electron rose 5.3% and 4.73%, respectively.
U.S. stocks closed higher on Tuesday, recording their sixth gain in seven sessions, buoyed by advances in technology shares as expectations that the Federal Reserve would cut interest rates next week remained elevated.
Shares of Japan's biggest banks fell, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group slipping 2% each, while Mizuho Financial Group fell 1.3%.
Bank shares had rallied earlier this week after Bank of Japan's Governor Kazuo Ueda gave the clearest hint so far on a rate hike, saying that the central bank would consider the "pros and cons" of rising rates at its December 18-19 meeting.
Auto shares also weighed on the Topix as the market was concerned that recent gains in the yen would cut into profits.
Toyota Motor and Honda Motor fell 1.31% and 0.76%, respectively, while Nissan Motor eased 1.89%
Of the more than 1,600 shares trading on the Tokyo Stock Exchange's prime market, 26% rose, 69% fell and 3% traded flat.
(Reporting by Junko Fujita; Editing by Subhranshu Sahu and Rashmi Aich)

Sumber : Reuters