Tokyo Stocks Rebound 890 Points on US Bond Relief
The Tokyo stock market rebounded on August 20 after two days of heavy selling. The Nikkei 225 closed at 66,216.79, up 890.37 points or 1.36%, as gains in U.S. equities and a sharp rally in South Korean semiconductor shares encouraged investors to buy back Japanese shares.
The broader TOPIX rose 47.42 points, or 1.18%, to 4,059.73. Market breadth was strong, with 1,320 stocks rising, 204 falling, and 32 unchanged. Prime Market trading value totaled about 8.6034 trillion yen, with volume of 2.25115 billion shares.
The rebound followed a steep selloff on August 19 when the Nikkei dropped 3.2% to its lowest close since August 4 as artificial intelligence and semiconductor-related shares were hit by rising bond yields, higher oil prices, and risk-off sentiment.