The Nikkei Average extended its sharp gains, recovering to the ¥60,000 level as AI-related stocks were bought back. A sharp rise in the U.S. SOX Index and factors unrelated to China also provided support, bringing the index to a six-session high.
The Nikkei Average extended its sharp gains, closing at ¥60,459.58, up ¥1,684.08 from the previous day, for a 2.87% increase. Trading volume was approximately 3.02634 billion shares, while trading value was approximately ¥9.1555 trillion.
The day's move was driven by stronger buying of AI- and semiconductor-related stocks. Non-AI stocks were also bought in the Tokyo market. Stocks with major positive contributions to the Nikkei Average included SBG, Advantest, Tokyo Electron, TDK and Ibiden.
In the U.S. market, the SOX Index surged, and risk appetite broadened, led by AI- and semiconductor-related stocks. The delay in President Trump's policy of resuming attacks on Iran and lower oil prices were also viewed favorably. Strong October sales at Taiwan's TSMC and a sharp rise in South Korea's KOSPI also provided support.