Key facts
- The Japanese stock market is showing resilience despite concerns over global chip competition.
- Technology shares have experienced increased volatility.
- Banks and automakers were the primary contributors to positive first-quarter recurring profit surprises.
- Investors are rotating capital amid strong earnings.
The broader Japanese stock market is demonstrating resilience amid rising fears over global chip competition, which has led to increased volatility in technology shares. Banks and automakers were the largest contributors to positive first-quarter recurring profit surprises, helping investors to rotate capital. The market cap-weighted Topix index reached a fresh high.