The Nikkei Average briefly gained more than 1,200 points, recovering to the 68,000 level for the first time in four weeks. Buying in AI and semiconductor-related stocks led the gains, while markets focused on developments against the backdrop of slower growth in the US CPI.
The Nikkei Average briefly gained more than 1,200 points, recovering to the 68,000 level for the first time in four weeks. It has risen by approximately 1,900 points over the past 2 trading days, with buying concentrated in AI and semiconductor-related stocks.
Market participants say a “sector rotation” is under way, with funds flowing into stocks with strong growth prospects in the AI and semiconductor-related sectors.
Following the release on the 12th of US Consumer Price Index data showing that growth had slowed for the second consecutive month, expectations for a rate hike this year receded. Even after coordinated intervention by Japan and the United States, the yen has remained in the ¥159 range against the US dollar, and the market is closely watching the impact of foreign exchange movements.
Going forward, market participants are expected to remain focused on developments in AI-related and semiconductor stocks, as well as fluctuations in the yen, in light of interest-rate trends in Japan and the United States and movements in foreign exchange rates.