Japanese stocks extended gains on the 28th, with the Nikkei average up ¥685. AI and semiconductor-related stocks led the market, while the flow from U.S. markets caused investor stock selection to center on Nikkei components.
Market conditions saw the Nikkei average rise ¥68 from the previous day, with the close reaching ¥63,954. Buying led by AI and semiconductor stocks pushed the intraday gain above ¥1,000 at one point. Strong earnings from a major South Korean memory-chip maker sparked sympathy buying in the Japanese market.
In the U.S. market, technology stocks attracted buying and the Dow average edged higher. AI-related stocks continued to perform well, with major names including Nvidia, Broadcom and Micron seeing buying. CoreWeave's performance was also said to have contributed to market confidence.
Across the Tokyo market, the range of stocks attracting buying was limited, and the Nikkei average at times faced renewed resistance at higher levels. TOPIX edged lower, while funds were reportedly concentrated in Nikkei components as a strategic allocation.