Japan's Nikkei rises nearly 2% as AI-linked shares track US semiconductor rally
EWJ•Japan's Nikkei rose 1.94% to 66,753.72, while the Topix climbed 1.67% to 4,108.65. AI-linked shares gained alongside US semiconductor stocks, and lower overnight oil prices lifted economy-sensitive shares.
1. Indexes close higher
The Nikkei closed 1.94% higher at 66,753.72 on Wednesday after briefly rising more than 2%. The broader Topix gained 1.67% to 4,108.65.
2. AI-linked shares advance
SoftBank Group rose 6.55%, while Tokyo Electron gained 2.69% and Advantest rose 1.03%. Fujikura climbed 5.94%. Taiyo Yuden gained 2.27% after saying it would form a business alliance with TDK, whose shares rose 2.12%; Murata Manufacturing fell 2.94%.
3. Broad gains across market
The Philadelphia Semiconductor Index advanced 1.3% overnight, despite a slight decline in US stocks. Value and banking shares also rose in Japan; Mizuho Financial Group gained 4.52%, and Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial each rose more than 3%. Of more than 1,500 stocks on the Tokyo Stock Exchange's prime market, 72% rose, 23% fell and 3% were flat.
