Japanese Stocks Advance on AI Optimism
Japan’s Nikkei 225 Index climbed 0.85% to close at 64,621 on Wednesday, recovering from one-month lows as AI-related stocks led the gains. Strong results from server manufacturer Super Micro Computer improved expectations for AI spending, while robust earnings from SpaceX, supported by growth in its AI and satellite internet businesses, further lifted sentiment. Among the top tech performers in Japan were Kioxia Holdings (2.8%), Advantest (1.7%), SoftBank Group (1.5%), Lasertec (1.5%), and Taiyo Yuden (1.7%). Financial stocks also rebounded, including Mitsubishi UFJ (2.4%) and Sumitomo Mitsui (2.3%). However, the market retreated from its session highs as oil prices climbed again amid renewed uncertainty surrounding US-Iran negotiations, heightening inflation concerns. Meanwhile, data showed that Japanese exports grew less than expected in September but extended their expansion for a 13th consecutive month, supported by strong demand for semiconductors and AI-related products.
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Japan’s Nikkei 225 Index climbed 0.85% to close at 64,621 on Wednesday, recovering from one-month lows as AI-related stocks led the gains. Strong results from server manufacturer Super Micro Computer improved expectations for AI spending, while robust earnings from SpaceX, supported by growth in its AI and satellite internet businesses, further lifted sentiment. Among the top tech performers in Japan were Kioxia Holdings (2.8%), Advantest (1.7%), SoftBank Group (1.5%), Lasertec (1.5%), and Taiyo Yuden (1.7%). Financial stocks also rebounded, including Mitsubishi UFJ (2.4%) and Sumitomo Mitsui (2.3%).
However, the market retreated from its session highs as oil prices climbed again amid renewed uncertainty surrounding US-Iran negotiations, heightening inflation concerns. Meanwhile, data showed that Japanese exports grew less than expected in September but extended their expansion for a 13th consecutive month, supported by strong demand for semiconductors and AI-related products.