The Nikkei Average extended its gains at the Tokyo market opening, rising ¥513 from the previous day. Semiconductor-related stocks were bought on a positive reaction to results from major US chipmaker NVIDIA, while Kioxia Holdings announced investment in a new facility in Iwate Prefecture and Terra Drone announced a stock split.
The Tokyo stock market opened with buying predominating on the 27th, with the Nikkei Average at ¥66,775 at the opening, sharply higher than the previous day. Buying spread across semiconductor and AI-related stocks following earnings from US stocks, and the overall market tone is expected to strengthen.
Nikkei reported that Kioxia Holdings plans to build a new facility in Iwate Prefecture, paving the way for increased production of NAND flash memory for long-term data storage. The investment is expected to exceed ¥1 trillion.
Semiconductor stocks including Tokyo Electron, the main group of related stocks responding to NVIDIA's results, were under buying pressure, as investors focused on the possibility that future earnings could exceed forecasts. Advantest, Disco, KOKUSAI ELECTRIC and SUMCO were also attracting attention.
Terra Drone announced a stock split and disclosed 30 September as the record date. The company is reportedly planning to split 1 share into 2 shares. This has prompted views that the investment environment will change.