Japan's Nikkei jumps 2.53% to 3-month high on AI gains
Business
Japan's Nikkei index shot up 2.53% on Monday, reaching a three-month high as AI stocks like Tokyo Electron and Advantest led the charge.
SoftBank also climbed, but Kioxia barely moved, up just 0.49%, and still lagging behind its June peak.
Japanese investors optimistic but cautious
Despite the rally, market sentiment is muted compared with earlier this year, when the Nikkei hit a record high.
Mamoru Shimode, chief strategist at Resona Asset Management, says investors are optimistic but careful this time around.
The Nikkei's rise also follows gains in US markets and comes ahead of Prime Minister Takaichi's policy speech later on Monday, which many hope will give clues about Japan's next economic moves.