Japan's Nikkei rallies as AI demand outlook brightens
EWJ•Japan's Nikkei 225 rose 0.85% to 64,621.24 and the Topix gained 0.86% to 4,043.73, as optimism about AI demand lifted sentiment. September exports rose 16.7% year over year, below forecasts.
1. Japanese shares rise
The Nikkei 225 advanced 0.85% to close at 64,621.24 on Wednesday, after earlier rising more than 2%. The broader Topix rose 0.86% to 4,043.73. Market breadth was positive, with 152 Nikkei constituents higher and 71 lower.
2. AI demand supports sentiment
Optimism over AI demand helped lift the market. ByteDance, Alibaba and Tencent were reported to have ordered more than 3 million Nvidia RTX PRO 5500 GPUs worth over $35 billion. Japan's exports rose 16.7% in September from a year earlier, below forecasts but showing resilient demand for semiconductors and AI-related products.
3. Gainers and decliners
Resonac Holdings rose 5.26%, JX Advanced Metals gained 4.13% and Mitsui Kinzoku advanced 3.77%, the largest percentage gains in the Nikkei. Shift fell 3.52%, Shiseido lost 2.64% and Sapporo Holdings declined 2.25%, the biggest percentage drops.
