Japan’s Nikkei jumps over 1% as AI optimism lifts chip stocks; exports rise 16.7%

AI optimism and resilient export growth lift Japanese equities, with chip-related stocks leading gains.

The benchmark Nikkei 225 climbed 1.56% to 65,074.56, while the broader Topix index advanced 1.03% to 4,050.65.

According to Reuters, sentiment around AI-related stocks improved after US equities rose overnight and SpaceX reported its first profit as a public company. Adding to the optimism, ByteDance, Alibaba and Tencent were reported to have ordered more than 3 million Nvidia RTX PRO 5500 graphics processing units worth over $35 billion.

Japan’s export data also supported the market, highlighting resilient global demand for semiconductors and AI-related products. Exports rose 16.7% year-on-year in September, government data showed on Wednesday, although the increase fell short of market expectations.

Market breadth remained positive, with 140 stocks advancing in the Nikkei 225 against 85 decliners.

Mitsui Kinzoku led the gainers, rising 7.10%, followed by Ibiden, which advanced 5.92%, and JX Advanced Metals, which gained 5.22%.

On the other hand, Toho was the biggest percentage loser, falling 3.41%. Shift declined 2.88%, while Aeon dropped 2.46%.