
The Nikkei average index rose by 534 points or 1.2%, reaching a new high. SoftBank surged by 10%, while Kioxia soared by 15%
Japanese stocks hit a new high. The strong performance of U.S. tech stocks drove a surge in Japanese AI-related stocks. The Nikkei average index continued its upward trend from the previous day, opening up 38 points and then expanding its gains, reaching a high of 559 points at 44,396, a historic high. It closed near the high at 44,372 points, up 534 points or 1.2%.
In the technology and semiconductor sector, SoftBank (9984.JP) rose 10%, memory chip maker Kioxia (285A.JP) rose 14.9%, NetScreen (07735.JP) and Disko (6146.JP) rose 6.4% and 6.5%, respectively, Nvidia supplier Advantest (6857.JP) rose 4.4%, and Tokyo Electron (8035.JP) rose 1.2%. Raytech (6920.JP) rose 2.8%. Wire stocks such as Furukawa Electric (5801.JP) and Fujikura (5803.JP) rose less than 0.1% and 2.6%. Semiconductor materials supplier JX Metals (5016.JP) rose 8.3%.
In the automotive sector, Toyota (7203.JP) fell 0.9%, while battery maker Panasonic (6752.JP) rose 1%. Heavy industry stocks Mitsubishi Heavy Industries (7011.JP), Kawasaki Heavy Industries (7012.JP), and IHI (7013.JP) rose between 1.5% and 2%. In other stocks, Fast Retailing (9983.JP) and Sony (6758.JP) fell 0.7% and 0.5%, respectively, Mitsubishi UFJ Financial Group (8306.JP) fell 1.7%, IP operator Sanrio (8136.JP) and stablecoin concept stock Asteria (3853.JP) fell 1.8% and 1.7%, while Ryohin Keikaku (7453.JP) and Nintendo (7974.JP) rose 4% and 2.6%.
Tokyo Electric Power (9501.JP) and Chubu Electric Power (9502.JP) rose 1.3% and 0.2%, respectively. The two companies' joint venture JERA signed an agreement with a U.S. company to explore the import of liquefied natural gas from Alaska.
The Japanese yen fell, with the latest exchange rate at 147.68 yen to the dollar
