Japanese Shares Climb on Tech Strength

Japanese Shares Climb on Tech Strength

The Nikkei 225 Index jumped 2.2% to above 71,600, while the broader Topix Index gained 1.2% to 4,042 on Wednesday, marking a third straight session of gains as Japanese equities tracked a technology-led rally on Wall Street overnight.

Chipmakers and AI-related stocks paced the advance as the recent selloff in the technology sector continued to fade, with strong performances from Kioxia Holdings (2.4%), Tokyo Electron (4.9%), Taiyo Yuden (11.1%), SoftBank Group (4.6%) and Advantest (4.9%).

On the economic front, business confidence among Japan’s large manufacturers rose to its highest level since 2018, reflecting the economy’s resilience despite the energy shock caused by the Middle East conflict.

Meanwhile, investors continued to monitor the ongoing US-Iran peace talks in Qatar, hoping for progress toward a lasting ceasefire agreement.

More news from Trading Economics