Japan's Nikkei index rose more than three percent to close at a two-week high today, as artificial intelligence-related shares surged in line with their US counterparts, while investors rushed to buy stocks with strong outlooks.
The Nikkei gained 3.66 percent to 66,300.44, its highest closing level since July 23, while the broader Topix index rose 2.13 percent to 4,046.17. The S&P 500 and the Dow Jones both closed at record highs on Tuesday. Shares of chip-testing equipment maker Advantest and chipmaking equipment manufacturer Tokyo Electron rose 8.77 percent and 3.26 percent, respectively, tracking the Philadelphia Semiconductor Index, which climbed 6.6 percent overnight. The US semiconductor index rose for a fourth consecutive session after falling 20.6 percent in July.
Shares of Murata Manufacturing, a leading producer of multilayer ceramic capacitors used to regulate power in AI servers, jumped 9.82 percent. Fanuc shares rose 4.41 percent, while bank stocks also advanced, with Mitsubishi UFJ Financial Group and Mizuho Financial Group gaining 2.05 percent and 4.17 percent, respectively.
Among the stocks that bucked the trend, shares of Fast Retailing, the owner of the Uniqlo brand, fell 2.33 percent, while shares of air-conditioner manufacturer Daikin Industries dropped 6.31 percent, putting the greatest downward pressure on the Nikkei.ـــONA
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