Weaker Yen Lifts Nikkei 477 Points to 38,311; Advantest Jumps on JPMorgan Upgrade

Japan’s benchmark Nikkei Stock Average rebounded on Monday, overcoming persistent concerns about rising tensions in the Middle East as a weaker yen and strong demand for technology shares spurred buying. The index closed up 477 yen at 38,311.33, erasing last week’s losses after climbing more than 500 yen during the session. The morning close had already shown a 359-yen gain at 38,193.39, while early trading saw a 347-yen advance. A slide in the yen to the low ¥144 per dollar range—its weakest in roughly two weeks—prompted investors to pick up export-oriented automakers and machinery makers. The currency’s decline tracked firmer crude oil prices, themselves buoyed by the Middle East conflict. Semiconductor equipment maker Advantest led gains, soaring after JPMorgan lifted its price target on the stock to ¥11,000. Strength in chip names also supported sentiment elsewhere in Asia, with Seoul’s Kospi rising about 1.8% on bargain hunting in defense, energy and IT shares. Traders remain cautious about further volatility, watching energy markets and currency moves closely as geopolitical risks and the global interest-rate outlook continue to shape investor appetite.