Japanese Shares Gain on Advantest Earnings
The Nikkei 225 Index advanced 1.1% to close at 64,659 on Thursday, extending its gains to a third consecutive session as strong earnings from chip-testing equipment maker Advantest boosted market sentiment. Advantest shares surged 6% after the company raised its full-year earnings forecast, citing stronger-than-anticipated demand for equipment used to test artificial intelligence chips. Other major technology stocks also advanced, with Kioxia gaining 1.2%, Ibiden rising 2%, and Tokyo Electron climbing 2.4%. However, disappointing earnings from Alphabet and Samsung Electronics reignited concerns over the sustainability of AI-related investments, limiting the broader market’s gains. Investors also turned their attention to the Bank of Japan’s upcoming policy meeting, where officials are widely expected to maintain current interest rates while potentially signaling a rate hike in December amid persistent inflationary pressures.
The Nikkei 225 Index advanced 1.1% to close at 64,659 on Thursday, extending its gains to a third consecutive session as strong earnings from chip-testing equipment maker Advantest boosted market sentiment. Advantest shares surged 6% after the company raised its full-year earnings forecast, citing stronger-than-anticipated demand for equipment used to test artificial intelligence chips. Other major technology stocks also advanced, with Kioxia gaining 1.2%, Ibiden rising 2%, and Tokyo Electron climbing 2.4%.
However, disappointing earnings from Alphabet and Samsung Electronics reignited concerns over the sustainability of AI-related investments, limiting the broader market’s gains. Investors also turned their attention to the Bank of Japan’s upcoming policy meeting, where officials are widely expected to maintain current interest rates while potentially signaling a rate hike in December amid persistent inflationary pressures.