The Nikkei Average extended its gains in the Tokyo stock market, closing ¥737.12 higher at ¥70,683.98 and returning to the ¥70,000 range for the first time in 3 months. Following the trend in US markets, expectations for AI demand and semiconductor-related companies lifted stock prices.
In the Tokyo stock market on the 6th, the Nikkei Average extended its gains, ending trading ¥737.12 higher than the previous day at ¥70,683.98. The closing level exceeded ¥70,000 for the first time in 3 months, as expectations for upside surprises in earnings at US AI and semiconductor-related companies were priced in ahead of the earnings season.
The Nasdaq Composite in the New York market was reported to have renewed its record high for the first time in 2 weeks. Although rising long-term interest rates weighed on the market at times, technology stocks drove trading. The Japanese market also followed this trend, extending its gains slightly from the opening.
Semiconductor equipment-related Advantest and TDK rose, while expectations for upward earnings revisions based on the outlook for AI-related demand helped lift the market. Rising long-term interest rates weighed on the market in some instances, but did not change the overall trend.