In the morning Tokyo stock market, the Nikkei Stock Average extended its sharp gains, rising more than ¥1,600 to trade at ¥68,355.81. Buying in high-tech stocks spread following strong earnings from a major US semiconductor company, driving the broader market.
In the Tokyo stock market on the morning of 1 October, the Nikkei Stock Average (225 issues) extended its sharp gains, at one point rising more than ¥1,600 to recover the ¥68,000 level. It reached its highest intraday level in about 1.5 months, while buying in high-tech stocks drove the broader market.
The morning close was ¥68,355.81, up ¥1,602.09 from the previous close, while TOPIX ended at 4,113.97, up 5.32 points. The earnings announcement from major US semiconductor company Micron Technology provided a buying catalyst, confirming expanding demand for artificial intelligence applications.
Domestic related stocks attracted buying amid expectations that strong earnings would continue, with purchases concentrated in AI-related and high-tech stocks. The rise in stock indexes led by high-tech stocks in the previous day's US market also provided support.