The Nikkei 225 temporarily recorded gains of more than ¥1,200, recovering to the ¥68,000 range for the first time in four weeks. Market sentiment was supported by the slowdown in U.S. consumer price inflation, against a backdrop of gains in AI- and semiconductor-related stocks.
The Nikkei 225 rose today, with its gain temporarily exceeding ¥1,200 and recovering to the ¥68,000 range for the first time in four weeks. Trading progressed on the Tokyo market, with buying focused on AI- and semiconductor-related stocks.
The Nikkei 225 has risen by more than approximately ¥1,900 over the past 2 business days, with movements in AI- and semiconductor-related stocks driving the market.
Following reports that U.S. consumer price inflation had slowed for the second consecutive month, views spread that expectations for a rate hike within the year would weaken. Buying of U.S. technology stocks was consequently said to have spilled over into the Japanese market.
The yen has remained in the ¥159-per-dollar range even after foreign exchange intervention coordinated between Japan and the United States, prompting concern that there could be situations in which the authorities' warnings lose their effectiveness. Some have also pointed out that excessive yen depreciation is negative for the market, and the situation is being closely watched.