In morning trading in Tokyo, the Nikkei 225 rose sharply for a second straight session, with buying of AI- and semiconductor-related stocks. The Nikkei 225 was up 2.4% from the previous day at ¥68,355.81, while TOPIX posted a modest gain.
In morning trading in Tokyo, the Nikkei 225 rose sharply for a second straight session, gaining 2.4% from the previous day to ¥68,355.81. AI- and semiconductor-related stocks were bought after Micron Technology reported earnings that exceeded expectations in the US, sending the Nikkei 225 back above ¥68,000 for the first time in approximately 1.5 months.
However, some stocks, particularly major issues, also weakened, prompting views that the gains were narrowly focused. Buying of AI- and semiconductor-related stocks intensified and supported the Nikkei 225's rise, while TOPIX posted only a modest gain.
The Tankan survey showed that the business conditions index (DI) for large manufacturers improved for the sixth consecutive quarter. Reports on the Bank of Japan's monetary policy meeting prompted views that concerns about a rate hike remained, and caution over interest-rate trends continued.
On the TSE Prime Market, 515 stocks rose, 992 fell and 42 were unchanged. Among individual stocks, Kioxia Holdings, Advantest and SoftBank Group rose, while Toyota Motor and Mitsubishi UFJ Financial Group were weak.