Japan’s Nikkei 225 Index experienced an increase of 0.85%, closing at 64,621 on Wednesday. This rise marks a recovery from one-month lows, driven primarily by gains in AI-related stocks. Strong results from server manufacturer Super Micro Computer have enhanced expectations for AI spending, while robust earnings from SpaceX, bolstered by growth in its AI and satellite internet businesses, have further elevated sentiment.
Among the leading technology performers in Japan were Kioxia Holdings at 2.8%, Advantest at 1.7%, SoftBank Group at 1.5%, Lasertec at 1.5%, and Taiyo Yuden at 1.7%. Financial stocks also experienced a rebound, with Mitsubishi UFJ rising by 2.4% and Sumitomo Mitsui increasing by 2.3%.
However, the market retreated from its session highs as oil prices climbed again amid renewed uncertainty surrounding US-Iran negotiations, heightening inflation concerns. Meanwhile, data indicated that Japanese exports experienced growth below expectations in September, yet marked their 13th consecutive month of expansion, bolstered by robust demand for semiconductors and AI-related products.
