In the Tokyo market during the morning session, the Nikkei average rose more than ¥800 against a backdrop of buying in AI-related stocks, moving into the ¥65,200 range. A recovery in US stocks and a rebound in CoreWeave attracted buying, broadening the technical rebound.
The Nikkei average rebounded at the opening of the Tokyo stock market on the morning of the 16th, rising about ¥800 from the previous day to the ¥65,200 range. Major stock indexes recovered in the US market, while a recovery in the share price of CoreWeave, which provides cloud services for AI, became a catalyst for the Nikkei's rise.
The Nasdaq Composite rebounded for the first time in 4 trading days, while comments from NVIDIA's CEO expressing an optimistic view of CoreWeave's financial condition prompted renewed buying in the company. Buying in AI- and semiconductor-related stocks led the move in the Japanese market and supported the Nikkei's rise.
Some AI- and semiconductor-related stocks, including Advantest and SoftBank Group, attracted buying and lifted the market as a whole. A rise in South Korea's KOSPI also supported Japanese stocks on the 16th.
TOPIX, another key Tokyo market index, also rebounded. Recruit Holdings, Konami Group and Bandai Namco Holdings traded higher, while Ibiden and Taiyo Yuden declined.