Nikkei 225 rises 0.4% as soft Japan GDP data weighs
Japan's Nikkei 225 Index rises 0.4% toward 69,000 after preliminary data showed the economy expanded less than expected in the second quarter, while chip and AI-linked stocks mostly advance.
The Nikkei 225 Index rose 0.4% toward 69,000 on Monday, extending last week’s gains after preliminary data showed Japan’s economy expanded less than expected in the second quarter, as weak domestic demand offset robust exports.
Still, strong demand related to artificial intelligence continued to support the outlook for Japanese companies deeply integrated into the global semiconductor supply chain.
Chip and AI-linked stocks mostly advanced, including Kioxia Holdings (2.9%), Advantest (3.9%), Fujikura (3%), Tokyo Electron (1.6%) and Furukawa Electric (4.1%).
Meanwhile, financial and consumer stocks mostly declined.
In corporate news, Nvidia is reportedly planning to invest up to $3 billion in SB Energy, a SoftBank Group subsidiary developing a major data center project in Ohio for OpenAI.