Japan's Nikkei soars 3.16% on AI stocks and earnings
Japan's Nikkei index soared 3.16% on Wednesday, as of 0101 GMT, thanks to strong AI stocks and upbeat earnings reports.
The Topix index also climbed 1.52%.
This rally followed big gains on Wall Street, where the S&P 500 and Dow Jones hit new records after AI-linked companies like Caterpillar and Palantir posted impressive results.
Semiconductor shares lead Tokyo rally
Semiconductor shares were the real MVPs, with Advantest jumping 8% and Tokyo Electron up 4%, riding a wave from a big US chip stock rally.
Murata Manufacturing surged 8.33% after raising its profit outlook on strong AI demand.
Financial giants like Mitsubishi UFJ and Mizuho also saw gains of more than 1%.
Even with some drops, like Fast Retailing and Daikin Industries, the Tokyo Stock Exchange's Prime Market saw nearly two-thirds of its stocks finish higher, showing solid optimism across Japan's market.