Japan's Nikkei rises for third day as data, earnings fuel AI optimism
EWJ•The Nikkei 225 rose 0.80% to 60,942.48 at Wednesday's midday break, while the Topix gained 0.79% to 3,924.51. Japanese manufacturers' sentiment reached its strongest level in more than five years in November, and investors looked ahead to Nvidia's earnings next week.
1. Japanese shares advance
Japan's Nikkei share gauge climbed for a third straight session on Wednesday as data and earnings reports revived some optimism about the AI sector. The Nikkei 225 advanced 0.80% to 60,942.48 at the midday break, and the broader Topix rose 0.79% to 3,924.51.
2. AI earnings in focus
A Reuters poll showed Japanese manufacturers' sentiment reached its strongest level in more than five years in November, supported by semiconductor demand. Investors are watching for Nvidia's third-quarter earnings next week; Nomura Securities strategist Wataru Akiyama said strong results could help ease concerns about AI and semiconductor-related stocks and benefit major Japanese AI-related companies.
3. SoftBank posts loss
SoftBank Group reported a second-quarter net loss of 1.1 trillion yen ($6.93 billion) after Tuesday's close, and its shares fell 3.02% on Wednesday. There were 149 advancers and 75 decliners on the Nikkei 225.
