The Nikkei Stock Average rose sharply at the start of the week, with its gain temporarily exceeding ¥1,300. Buying was strongest in AI- and semiconductor-related stocks, against the backdrop of developments in the US market.
In Tokyo trading at the start of the week, the Nikkei Stock Average rose sharply, with its initial gain exceeding ¥1,300. Buying momentum continued thereafter, and the gain widened toward the close.
In the US market, technology stocks were bought, with semiconductor giant NVIDIA setting a new record high. Buying of AI-related and semiconductor-related stocks appears to have spread to the Tokyo market as well.
Market participants cited the decline in crude oil prices following the decision to release oil reserves and the employment report coming in below expectations as factors easing expectations for an early rate hike in the United States.