Japan's Nikkei reverses course to end higher as chip-related shares cut losses

Japan's Nikkei reversed course to close 0.15% higher at 69,468.11 after falling as much as 1.97% earlier, driven by chip-related shares recovering from losses. South Korean President Lee Jae Myung announced that Samsung Electronics and SK Hynix will invest around $520 billion with suppliers to build two new chip fabrication sites in the country. The volatility follows a 5.3% fall in the Philadelphia SE semiconductor index on Friday, with investors rotating out of AI-related stocks amid concerns about elevated memory chip prices.