The Nikkei Average rose sharply in the Tokyo market at the start of the week, gaining more than ¥1,300. Buying in AI and semiconductor-related stocks led the market higher, driven by developments in the US market.
The Nikkei Stock Average rose sharply in the Tokyo market at the start of the week, extending its gains after rising from the opening.
The buying of technology stocks, led by major semiconductor company NVIDIA, in the US market on the 2nd spilled over into Japan, prompting buying in AI and semiconductor-related stocks.
According to market sources, the release of oil reserves decided by the Group of Seven major economies, which pushed crude oil prices lower, and US employment data that fell below market expectations led to a view that expectations for an early rate hike had eased.
These factors are seen as supporting the Nikkei Average's rise, with attention focused on its future direction.