Tokyo Nikkei jumps 4.6% to all-time high after Micron forecast
Business
Tokyo's Nikkei index jumped 4.6% on Thursday, closing at an all-time high.
The surge came after US chipmaker Micron's upbeat forecast sparked fresh excitement for tech shares, helping the broader Topix index rebound too.
AI-related stocks drive gains
AI-related companies were the stars: SoftBank Group shot up 8%, Advantest soared 15%, and Tokyo Electron plus Kioxia saw solid gains as well.
Makers of parts for AI data centers like Murata Manufacturing and Taiyo Yuden also climbed more than 7%.
Energy and shipping stocks lag markets
Energy and shipping stocks didn't share in the celebration. Oil prices slipped, pulling mining shares down more than 3%, and Kawasaki Kisen dropped nearly 4%.
Still, most stocks on Tokyo's prime market ended higher as investors stayed optimistic about tech's momentum.