Nikkei Rises Sharply, SoftBank Tops the Chart!
The Nikkei 225 Index surged 5.58% to close at 62,834 in post-holiday trading on Thursday (May 7), hitting a new record high. This rise reflects Japanese stocks' catch-up with the global technology-driven rally.
Sentiment strengthened after major technology companies' earnings performance reinforced optimism about the adoption of artificial intelligence, which in turn boosted interest in semiconductor-related stocks. SoftBank Group led the gains, surging more than 18% to a six-month high, its strongest daily performance since 2020.
Chip supply chain stocks also rallied sharply. Advantest rose 6.8% and Tokyo Electron gained 9%, while other major tech names such as Fujikura, Lasertec, and Disco Corp. also rallied.
Additional impetus came from reports that the US and Iran were nearing an agreement on a 14-point, one-page memorandum to end the conflict, including potential steps to reopen the Strait of Hormuz and establish a broader framework for nuclear negotiations. If perceived geopolitical risk eases, the risk premium on risk assets tends to decrease, supporting equity gains.
The market's next focus will be on the continuation of the technology sector earnings narrative, the movement of semiconductor stocks, and concrete developments in the US-Iran talks, which could impact the stability of global energy flows and overall risk sentiment. (asd)
Source: Newsmaker.id
