Japan’s Nikkei rebounds after Wall Street’s strong finish

TOKYO – Japan’s Nikkei share average rebounded on Monday from a sharp decline in the previous session, underpinned by Wall Street’s strong finish last week.

The Nikkei was up 0.91% at 37,503.29, as of 0012 GMT. The index ended at a five-month low on Friday, dragged by declines in chip-related stocks.

The broader Topix rose 1.03% to 2,709.88.

Wall Street ended higher on Friday, with Dell Technologies dipping and other tech stocks climbing after a meeting between US President Donald Trump and Ukrainian counterpart Volodymyr Zelenskiy ended in disaster.

The Nasdaq gained 1.63% and the Dow Jones Industrial Average rose 1.39%.

In Japan, chip-making equipment maker Tokyo Electron 8035.T rose 0.53% to give the biggest boost to the Nikkei on Monday. Robot maker Fanuc 6954.T rose 0.95%.

All of the Tokyo Stock Exchange’s 33 industry sub-indexes rose, with the brokerage sector rising 2.87% to become the top performer.

(Reporting by Junko Fujita; Editing by Rashmi Aich)