In the Tokyo market at the start of the week, the Nikkei Stock Average rose more than ¥1,300 at one point, as buying in AI and semiconductor-related stocks lifted the broader market. Market reports cited developments in the US market and news on oil supplies as the backdrop.
The Nikkei Stock Average rose sharply from shortly after trading began at the start of the week, widening its gains thereafter and rising more than ¥1,300 at one point.
The Tokyo market followed the trend of buying in technology stocks in the US market, including a record high for leading semiconductor company Nvidia, with buying in AI and semiconductor-related stocks.
Market participants said the Nikkei's rise was supported by lower crude oil prices following the G7 decision to release oil reserves and by easing expectations for an early US rate hike after employment data came in below market expectations.