The Nikkei 225 briefly recorded a gain of more than 1,200 points, recovering to the 68,000 level for the first time in four weeks. Gains in AI and semiconductor-related stocks are driving the market.
The Nikkei 225’s gain briefly exceeded 1,200 points, taking the index back to the 68,000 level for the first time in four weeks. It has risen by approximately 1,900 points over the past 2 trading days, with buying focused on AI and semiconductor-related stocks.
Against a backdrop of US consumer price index growth slowing for the second consecutive month, expectations for a rate hike later this year have weakened, and the flow of buying into technology stocks in the US market has spread to Japan. Market participants point to sector rotation, with buying intensifying in stocks expected to deliver high growth.
Following coordinated foreign-exchange intervention by Japan and the US, the dollar-yen exchange rate has returned to the ¥159-per-dollar range. Experts have expressed the view that excessive yen depreciation is negative for the market, prompting growing vigilance.