The Nikkei 225 Index Closes 1.01% Higher

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.

The Nikkei 225 Index went up by 647 points or 1.01 percent on Wednesday to close at 64722 points. The rise was led by Resonac Holdings (5.33%), Mitsui Kinzoku (4.48%) and Fujikura (4.17%).

The Nikkei 225 Index jumped 2% to above 65,000 on Wednesday, rebounding from one-month lows, with AI-related shares leading the gains as strong results from server manufacturer Super Micro Computer boosted the spending outlook for AI spending. Robust earnings from Elon Musk’s SpaceX, driven by growth in its AI and satellite internet businesses, also supported sentiment towards the sector. Among the top tech performers in Japan were Kioxia Holdings (5.1%), Advantest (4.8%), SoftBank Group (3.5%), Lasertec (3.2%), and Taiyo Yuden (2.7%). Financial stocks also rebounded, with Mitsubishi UFJ rising 1.6% and Sumitomo Mitsui gaining 1.4%. Meanwhile, data showed that Japanese exports increased 16.7% in September, falling short of the 20.1% forecast and marking the slowest growth since April. Still, exports extended their growth streak to 13 consecutive months, supported by strong demand for semiconductors and AI-related products.