Japan's stock market reignited optimism over AI, sending the Nikkei Average sharply higher. Major companies' earnings trends and gains in semiconductor stocks led the market, while U.S. market developments were also seen as influential.
Japan's Nikkei Average rose 1.26% in Wednesday trading to 64,067.10. TOPIX fell 0.02% to 3,996.53.
In the U.S. market, the S&P 500 rose 0.60% and the Nasdaq rose 1.18%, as technology-led trading continued. News of funding for major AI-related companies was a market focus.
AI-related stocks sometimes fell on large-scale spending and funding news, but were reported to tend to rise on news indicating profit growth. Semiconductor-related earnings announcements are expected to be concentrated toward the weekend, with selective trading expected to become more active.
Among the Nikkei's gainers, Kioxia Holdings rose 12.97%, Taiyo Yuden 8.41% and Ibiden 7.00%, while Capcom fell 11.80%, Konami Group 6.76% and Canon 5.83%.
Investors are awaiting the Federal Reserve's rate decision late Wednesday. A hold is priced in, while a December rate hike is viewed as increasingly likely.