Japan's Nikkei Rises 3.66%
Japan's Nikkei index surged 3.66% to a two-week high, driven by artificial intelligence-related shares tracking US gains and strong investor demand for stocks with positive outlooks. The Topix index rose 2.13%.
Japan's equity market delivered strong performance on Wednesday, with the Nikkei index climbing 3.66% to 66,300.44, its highest closing level since July 23. The broader Topix index also advanced, gaining 2.13% to 4,046.17. The rally was propelled by artificial intelligence-related shares that tracked overnight gains in their US counterparts, alongside investor enthusiasm for stocks demonstrating strong growth prospects.
Semiconductor and technology stocks led the advance. Advantest, a chip-testing equipment maker, surged 8.77%, while Tokyo Electron, a chipmaking equipment manufacturer, rose 3.26%, both tracking the Philadelphia Semiconductor Index's 6.6% overnight climb. Murata Manufacturing, a producer of multilayer ceramic capacitors used in AI servers, jumped 9.82%. Fanuc shares rose 4.41%, and financial stocks also participated in the rally, with Mitsubishi UFJ Financial Group gaining 2.05% and Mizuho Financial Group advancing 4.17%.
Not all sectors participated equally. Fast Retailing, owner of the Uniqlo brand, declined 2.33%, while air-conditioner manufacturer Daikin Industries fell 6.31%, exerting the greatest downward pressure on the index.
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