Japan's Indexes Snapped Two-Day Losing Streak, Bain Sold Remaining Stake In Kioxia

Akira Ito
09 Jul, 2026
Tokyo

Japan's indexes rebounded on Thursday and halted a two-day slide amid a rebound in tech stocks. 

The Nikkei 225 Stock Average gained 1.6%, the broader TOPIX increased 0.3%, and the yen weakened to 162.38 against the U.S. dollar.

Japan's stocks responded positively to a rebound in memory and chipmakers during overnight trading, following the oversubscription of SK Hynix's U.S. IPO by seven times, which underscored the sustained demand for AI infrastructure-linked stocks.

Investors also reviewed the latest minutes of the U.S. Fed's policy meeting held on June 16-17, and policymakers remained divided over the interest rate outlook. 

Overall inflation has hovered above the Fed's target rate of 2% for more than five years, and the latest bout of inflation is rooted in the Middle East conflict, which some policymakers viewed as transitory. 

However, many policymakers worried that the surge in artificial intelligence infrastructure would keep inflation elevated by lifting prices for advanced chips and other electronic goods. 

Most Fed watchers and market analysts are anticipating the Federal Reserve to raise the key lending rate by 25 basis points before the year's end and after the midterm elections. 

 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average increased 1.6% to 67,889.07, and the broader TOPIX rose 0.3% to 4,018.08. 

Kioxia Holdings soared 6.6% to ¥76,590.0 after strong interest in the U.S. listing of South Korea's SK Hynix supported demand for artificial intelligence infrastructure providers. 

Bain Capital sold its entire stake in the memory maker after steadily trimming its holdings over the last eighteen months, said managing partner David Gross according to Bloomberg.

Bain led the memory-makers' $18 billion buyout in 2018, and Kioxia was listed on the Tokyo Stock Exchange on December 18, 2024. 

Kioxia Holdings listed its stock at a price of 1,455 per share and raised 120 billion yen, or $800 million.