Japan's market rose for a third straight session on the 29th, with earnings trends among AI-related stocks driving market moves. Advantest in particular reported strong results and raised its operating profit forecast.
The Nikkei 225 rose for a third straight session in Japan's market on the 29th, closing at ¥64,659.47 and remaining at a high level. Earnings trends among AI-related stocks influenced the broader market, and semiconductor-related stocks, including Advantest, attracted buying.
Demand for testers used with AI semiconductors exceeded Advantest's expectations, prompting the company to raise its operating profit forecast for the current fiscal year. Other semiconductor and electronic component companies also helped support the market in response.
In the bond market, interest-rate movements were mixed, particularly in the long-term zone. The two-year bond auction was smoothly absorbed, with the bid-to-cover ratio at the Ministry of Finance's two-year bond auction exceeding the average for the past 12 months.
In the foreign-exchange market, the yen traded in the upper ¥157 range against the dollar. Ahead of the Bank of Japan's Monetary Policy Meeting, factors supporting yen selling were seen as limited.