The Nikkei 225 Index surged 3.3% to finish at 68,957 on Thursday, marking its second consecutive session of gains and reaching its highest point in six weeks. This increase was driven by a rally in technology and artificial intelligence-related stocks, spurred by Micron Technology’s optimistic outlook.
The US memory chipmaker issued an optimistic revenue forecast for the current quarter, indicating sustained demand for AI memory chips. Japanese chip and AI-related shares demonstrated superior performance, reflecting the nation’s integral position in the global AI development landscape. Noteworthy increases were observed in Kioxia (5.6%), Advantest (9.8%), Taiyo Yuden (8.3%), Murata Manufacturing (8.4%), and Lasertec (11.1%).
Meanwhile, Nidec experienced a decline of 10.8% following the decision of the motor maker’s auditor to withhold an opinion on its long-awaited financial statements. Elsewhere, central bank data indicated that manufacturing sentiment experienced an uptick in the third quarter, reaching its highest point in over eight years, while overall business conditions attained their most favourable levels in decades.
