Following the US FOMC's decision to raise rates, the Nikkei 225 extended its gains, surging more than 700 points at one point. Against a backdrop of higher US stocks, AI- and semiconductor-related stocks were bought in the Japanese market.
The Nikkei 225 opened higher for a second day in the Tokyo stock market at the opening of the morning session on the 17th, moving in the 64,300 range.
The Federal Reserve Board (FRB) implemented a 0.25% rate hike, prompting market participants to consider the possibility of another rate hike later this year. Meanwhile, with the SOX Index in the US market edging higher, buying of AI- and semiconductor-related stocks led the Japanese market, and the Nikkei 225 rose more than 700 points at one point.
The FOMC dot plot pointed to remaining one more rate hike this year, driving the yen lower against the dollar to the ¥156 range. Buying interest in automobile stocks also affected shares including Toyota and Honda at one point.
Among individual stocks, Fast Retailing, Chugai Pharmaceutical and Konami Group rose, while some AI- and semiconductor-related stocks, including Tokyo Electron and Advantest, turned lower after rising in the morning. Sumitomo Metal Mining and Mitsui Mining & Smelting fell.
The TOPIX also extended its gains, and movements in AI- and semiconductor-related stocks were broadly seen as a driving factor for the market.