The Nikkei 225 Index Closes 2.36% Higher

The Nikkei 225 Index went up by 77 points or 0.13 percent on Thursday to close at 58660 points. The rise was led by NEC (8.94%), Recruit Holdings (6.93%) and M3 (6.47%). On the downside, the weakerst performers were Toho (-79.93%), Taiyo Yuden (-4.85%) and Takashimaya (-4.41%).

The Nikkei 225 Index advanced 0.9% to above 59,000 while the broader Topix Index rose 1.3% to 3,895 on Thursday, with both benchmarks notching fresh record highs as fading expectations of an imminent Bank of Japan rate hike underpinned risk appetite. On Wednesday, Prime Minister Sanae Takaichi nominated two reflation-leaning academics to the central bank’s policy board, reinforcing views that the BOJ will proceed cautiously with any additional policy tightening. Japanese equities also followed Wall Street higher as software and other technology shares rebounded overnight. However, upbeat earnings from Nvidia failed to lift its stock materially, highlighting lingering concerns about the durability of the AI-driven rally. Notable gainers in Tokyo included index heavyweights such as Fujikura (+2.5%), JX Advanced Metals (+3.6%), Mitsubishi Heavy Industries (+4%), SoftBank Group (-5.1%) and Mitsubishi UFJ (+2.9%).

The Nikkei 225 Index rose 1353 points or 2.36 percent on Wednesday to close at 58674 points. Leading the gains are Toho Zinc (9.65%), Mitsui Mining & Smelting (7.87%) and Screen Holdings (7.57%).