Nikkei Recovers 69,000 as AI Shares Defy Weak GDP
Tokyo stocks rose on August 17, with the Nikkei 225 closing at 69,220.25, up 506.45 points, as buying in artificial intelligence and semiconductor-related shares outweighed weaker-than-expected economic growth, rising bond yields and renewed concern over household spending. (News On Japan)
The Nikkei 225 index recovered 69,000 points on August 17, buoyed by strong performance in artificial intelligence (AI) and semiconductor-related shares, despite weaker-than-expected economic growth and rising bond yields. The index achieved this milestone for the fifth consecutive session, marking its first return to the 69,000 level in about a month and a half.
The rally was driven primarily by a handful of high-impact technology shares, with semiconductor and AI-linked heavyweights lifting the price-weighted Nikkei significantly. Advantest, Kioxia Holdings, and SoftBank Group were among the top contributors to the index's gain, reflecting continued investor confidence in AI-related companies and their potential earnings.
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