Against a backdrop of expectations that growth in US inflation indicators had slowed, the Nikkei 225 recovered to the 68,000 level for the first time in four weeks. Buying spread, led by AI and semiconductor-related stocks, while the yen traded in the 159-per-dollar range.
The Nikkei 225's gain temporarily exceeded 1,200 points, and the index is recovering to the 68,000 level for the first time in four weeks. The index, which rose approximately 1,900 points over the 2 trading days through the 12th, has been rising, led by AI and semiconductor-related stocks.
Against a backdrop of expectations that growth in the US Consumer Price Index had slowed for the second consecutive month, expectations for rate hikes this year weakened. Technology stocks were bought in the US market, with the effect spreading to the Japanese market. Market participants say sector rotation into high-growth stocks is taking place.
Following coordinated currency intervention by Japan and the United States, the yen has again been trading in the ¥159-per-dollar range. Experts are watching the effectiveness of official warnings and the impact of excessive yen depreciation.
These developments are supporting buying in IT-related stocks, and views have emerged that the market environment is changing against a backdrop of Japan's gradual economic recovery and strong IT investment.