Japan's Nikkei rises as tech results revive AI optimism; Topix sags
EWJ•Japan's Nikkei 225 rose 1.08% to 63,954.19, while the Topix slipped 0.14% to 3,991.71. Strong results from SK Hynix and renewed AI optimism supported technology shares.
1. Nikkei closes higher
The Nikkei 225 gained for a second straight day, rising 1.08% to close at 63,954.19, while the broader Topix fell 0.14% to 3,991.71. The Nikkei had 85 advancers and 139 decliners, but its heavy technology weighting helped it finish higher.
2. AI and chip shares
SK Hynix reported quarterly profit more than seven times higher and announced about $75 billion in shareholder returns; South Korea's KOSPI surged 6.63%. Maki Sawada, an equities strategist at Nomura Securities, said investors have been rewarding signs of increased profitability at AI-related companies while shares tend to decline on news of large spending and fundraising. Investors were also looking ahead to a Federal Reserve rate decision later Wednesday.
