Japanese Shares Climb in Post-Holiday Trade
The Nikkei 225 Index jumped 1.6% to above 66,000 on Thursday as the market reopened following an extended holiday, with technology and artificial intelligence stocks leading gains as they caught up with global peers. Global tech and AI shares outperformed in recent sessions after Meta’s Muse personal AI agent rekindled investor interest in the sector and boosted demand for AI infrastructure stocks. Notable gainers in Japan included Kioxia Holdings (3.2%), Ibiden Co (5.9%), Advantest (1%), SoftBank Group (5.4%) and Tokyo Electron (0.8%). Meanwhile, investors remained cautious as Wall Street came under pressure on Wednesday after strong US economic data and a rebound in oil prices fueled inflation concerns and reinforced expectations for further Federal Reserve rate hikes, pushing the dollar and Treasury yields higher. Investors also continued to monitor developments in US-China talks that could lead to new trade agreements.
6% to above 66,000 on Thursday as the market reopened following an extended holiday, with technology and artificial intelligence stocks leading gains as they caught up with global peers. Global tech and AI shares outperformed in recent sessions after Meta’s Muse personal AI agent rekindled investor interest in the sector and boosted demand for AI infrastructure stocks. 8%). Meanwhile, investors remained cautious as Wall Street came under pressure on Wednesday after strong US economic data and a rebound in oil prices fueled inflation concerns and reinforced expectations for further Federal Reserve rate hikes, pushing the dollar and Treasury yields higher.
Investors also continued to monitor developments in US-China talks that could lead to new trade agreements.