Nikkei Jumps 1,378 Points as Chip Shares Lead Rebound
Tokyo stocks rose sharply on September 7, with the Nikkei 225 closing at 66,399, up 1,378 points, or 2.12%, as buying in artificial intelligence and semiconductor-related shares lifted the headline index, even though more stocks fell than rose across the Prime Market. (News On Japan)
Tokyo's stock market experienced a significant rebound on September 7, with the Nikkei 225 index surging 1,378 points, or 2.12%, to close at 66,399. Despite more stocks falling than rising across the Prime Market, buying activity in artificial intelligence and semiconductor-related shares propelled the headline index. The broader TOPIX index rose 22.57 points to 4,125.80.
The rally was concentrated in high-priced technology shares, with 630 gainers, 883 decliners, and 36 unchanged stocks. U.S. semiconductor shares led the charge, following a rise at the end of the previous week, and Chicago Nikkei futures traded above Osaka close. The index began the day at 65,600.42 and extended its gains through the morning as investors purchased major AI and chip-related names.
The rally's narrow nature highlighted that investors were buying a small group of large, liquid AI-related shares instead of the broader Japanese market. Advantest and SoftBank Group played significant roles in the Nikkei's performance, with their large weightings in the price-weighted index. The rally also reflected renewed confidence in Japan's role in the global semiconductor supply chain.
However, poor market breadth indicated that confidence had not fully returned to the overall market, with continuing concerns over interest rates, oil prices, inflation, and Bank of Japan policy affecting investors' decisions.
Written by urgent.news from News On Japan's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
