Nikkei rebounds after hitting a two-week low as technology shares rise

The Japanese Nikkei index ended trading on Tuesday, up more than one percent, led by major technology companies, as the benchmark index rebounded after reaching its lowest level in two weeks in the previous session.

The Nikkei rose 1.14 percent to close at 28,195.58 points, while the broader Topix index rose 1.25 percent to 1968.38 points.

US futures gains are another positive factor.

US stocks closed lower on Monday after sharp losses incurred last week due to concerns about the intention of the Federal Reserve (the US central bank) to raise interest rates sharply to curb inflation even as the economy slows.

In Japan, the chip maker Tokyo Electron rose 1.65% and gave the biggest boost to Nikkei, followed by SoftBank Technology Investment Group, which rose 1.67%.

NEC shares rose 5.97 percent to become the biggest gainer on the Nikkei index, after the computer manufacturer announced a buyback of up to 2.46% of its shares.

Shares of 206 companies increased over the Nikkei, compared to 18 companies whose shares fell.