Japan's Nikkei rallies as AI demand outlook brightens
EWJ•Japan's Nikkei 225 rose 1.56% to 65,074.56 in early trading, while the Topix gained 1.03% to 4,050.65. AI sentiment was boosted by SpaceX's first profit as a public company, and ByteDance, Alibaba and Tencent reportedly ordered more than 3 million Nvidia GPUs worth over $35 billion.
1. Japanese shares rise
Japan's Nikkei share gauge rallied on Wednesday as optimism over AI-sector demand returned. The Nikkei 225 climbed 1.56% to 65,074.56 in early trading, and the broader Topix gained 1.03% to 4,050.65.
2. AI demand supports sentiment
US shares rose overnight, and AI-related sentiment was boosted by SpaceX's first profit as a public company. ByteDance, Alibaba and Tencent were reported to have ordered more than 3 million Nvidia RTX PRO 5500 GPUs worth over $35 billion.
3. Exports show resilience
Japan's exports rose 16.7% year over year in September, below forecasts but demonstrating resilient demand for semiconductors and AI-related products. The Nikkei had 140 advancers and 85 decliners.
