Japanese shares experienced a significant surge, with the Nikkei 225 Index climbing to new record highs, driven by political developments and renewed optimism in the technology sector. Broad market gains were also observed, reflecting positive sentiment across various industries.
- The Nikkei 225 Index jumped 2.28% to close at 57,650.
- The broader Topix Index gained 1.9% to 3,855.
- Expectations of higher spending and tax cuts following Prime Minister Sanae Takaichi’s election victory fueled the rally.
- SoftBank Group surged 10.7% due to renewed optimism around artificial intelligence.
- Other tech and AI-related shares, including Fujikura, Disco Corp, Advantest, and Tokyo Electron, also saw gains.
- Furukawa Electric soared 22.9% on strong earnings.
- NEC jumped 7.3% after announcing a share buyback program.
The overall market sentiment surrounding this asset is bullish. Political factors, particularly expectations related to government policy, are playing a significant role in driving investor confidence. Furthermore, strong performance in the technology sector, especially related to artificial intelligence, is contributing to positive market movements. Positive corporate actions, such as share buybacks and strong earnings reports, are also supporting the upward trend.