Tokyo: Japan's Nikkei extended gains for a third straight session on Wednesday, lifted by artificial intelligence-related stocks, though investor caution erased much of its early advance. The Nikkei 225 rose 0.59% to close at 70,474.96, after climbing as much as 2.7% earlier in the session. The broader Topix index gained 0.42% to finish at 4,011.50.
According to Qatar News Agency, market breadth was negative, with 127 stocks declining, 96 advancing, and two ending unchanged on the Nikkei. Chip-related stocks led the gains. SUMCO Corp. surged 17.37% to its highest closing level since October 2007, while Taiyo Yuden Co. climbed 12.43% to a record close. SCREEN Holdings Co. advanced 9.46% to an all-time closing high.
Among the laggards, Kawasaki Heavy Industries Ltd. fell 7.66% after a volatile session, while J. Front Retailing Co. dropped 7.6%, making it one of the index's worst-performing stocks.