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Tokyo Stocks Close Thursday on High Note
(MENAFN) Tokyo shares climbed sharply Thursday, propelled by major semiconductor and artificial intelligence-focused stocks that mirrored overnight gains in the U.S. market.
The Nikkei 225 index rose 608.03 points, or 1.23%, closing at 50,167.10, while the broader Topix index added 13.07 points, or 0.39%, to finish at 3,368.57.
Analysts said AI and semiconductor stocks followed the tech-heavy Nasdaq’s advance, fueled by optimism that AI-related demand will stay robust after Dell Technologies Inc. adjusted its earnings forecasts. "On the stock market, semiconductor and AI-linked issues tracked the overnight rise of the tech-heavy U.S. Nasdaq index, amid hopes AI-related demand will remain solid after major U.S. tech firm Dell Technologies Inc. revised its earnings projections," they noted.
Investor sentiment was also buoyed by speculation over a potential additional U.S. Federal Reserve rate cut in December aimed at supporting the world’s largest economy. "Stocks were also lifted by hopes of a possible additional Fed rate cut in December to support the world's largest economy," analysts added.
The Nikkei 225 index rose 608.03 points, or 1.23%, closing at 50,167.10, while the broader Topix index added 13.07 points, or 0.39%, to finish at 3,368.57.
Analysts said AI and semiconductor stocks followed the tech-heavy Nasdaq’s advance, fueled by optimism that AI-related demand will stay robust after Dell Technologies Inc. adjusted its earnings forecasts. "On the stock market, semiconductor and AI-linked issues tracked the overnight rise of the tech-heavy U.S. Nasdaq index, amid hopes AI-related demand will remain solid after major U.S. tech firm Dell Technologies Inc. revised its earnings projections," they noted.
Investor sentiment was also buoyed by speculation over a potential additional U.S. Federal Reserve rate cut in December aimed at supporting the world’s largest economy. "Stocks were also lifted by hopes of a possible additional Fed rate cut in December to support the world's largest economy," analysts added.
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