Japanese Stocks Close: Topix Rebounds, AI Concept Stocks Fall Dragging Nikkei

Tokyo, May 19 (CNA) Japan's Topix stock index rebounded today, led by bank stocks, closing higher. However, investor concerns about overvaluation led to a rotation of funds to other sectors, causing artificial intelligence (AI) related concept stocks to fall, which in turn dragged down the Nikkei 225 index's performance. The benchmark Nikkei 225 index fell by 265.36 points, or 0.44%, to close at 60550.59 points. The Topix stock index, on the other hand, saw a slight increase of 24.16 points, or 0.63%, closing at 3850.67 points.