Tokyo Stocks Close Wednesday With Mixed Results
(MENAFN) Tokyo equities ended split on Wednesday as a renewed surge in artificial intelligence stocks collided with a spike in crude oil prices, lifting the headline index while dragging down the wider market.
The 225-issue Nikkei Stock Average gained 685.82 points, or 1.08 percent, from Tuesday’s close to finish at 63,954.19. The broader Topix index moved the other way, shedding 5.66 points, or 0.14 percent, to settle at 3,991.71.
AI and semiconductor heavyweights led the advance, following their U.S. peers higher. Fresh optimism about the sector’s profitability and the sustainability of its massive spending helped buoy sentiment, as encouraging details in the initial public offering prospectus of U.S. AI company Anthropic drew buyers to the Tokyo market for a second consecutive session.
Beyond technology, however, most sectors closed in the red. West Texas Intermediate crude futures climbed above 100 U.S. dollars per barrel, driving up Japanese government bond yields and pressuring stocks across the board.
Investors also held back ahead of policy announcements from the U.S. Federal Reserve and the Bank of Japan, both scheduled for later this week, analysts said.
The 225-issue Nikkei Stock Average gained 685.82 points, or 1.08 percent, from Tuesday’s close to finish at 63,954.19. The broader Topix index moved the other way, shedding 5.66 points, or 0.14 percent, to settle at 3,991.71.
AI and semiconductor heavyweights led the advance, following their U.S. peers higher. Fresh optimism about the sector’s profitability and the sustainability of its massive spending helped buoy sentiment, as encouraging details in the initial public offering prospectus of U.S. AI company Anthropic drew buyers to the Tokyo market for a second consecutive session.
Beyond technology, however, most sectors closed in the red. West Texas Intermediate crude futures climbed above 100 U.S. dollars per barrel, driving up Japanese government bond yields and pressuring stocks across the board.
Investors also held back ahead of policy announcements from the U.S. Federal Reserve and the Bank of Japan, both scheduled for later this week, analysts said.
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