Nikkei Rises 2%, Japanese Tech Stocks Lead Gains
Newsmaker.id - The Japanese stock market rose sharply on Thursday, driven by a rebound in technology stocks after experiencing pressure in the previous two sessions. The Nikkei 225 index surged 2% to above 68,000, while the Topix index rose 0.4% to 4,022.
The Japanese market's gains also followed positive sentiment on Wall Street, particularly in chip and memory-related stocks, which rallied overnight. This increase prompted investors to return to the technology sector, particularly issuers related to semiconductors and artificial intelligence.
Market sentiment strengthened after reports that SK Hynix's US listing was oversubscribed more than seven times. This condition indicates continued strong investor interest in the artificial intelligence infrastructure sector, a key trend in the global market today.
In Japan, shares of Kioxia Holdings surged more than 7% despite Bain Capital selling its entire stake in the flash memory manufacturer. Other technology stocks also rallied, with Murata Manufacturing rising 4%, Advantest soaring 6.9%, Tokyo Electron gaining 4%, and Fujikura adding 5.1%.
Market Impact :
The Nikkei's strengthening indicates that investor interest in the technology and AI sectors remains very strong, despite the market's previous downturn. This could be a positive signal for Asian markets in general, especially stocks related to chips, memory, data centers, and AI infrastructure.
Another impact is the potential for increased risk-on sentiment. When Japanese and US technology stocks both strengthen, investors typically feel more confident in investing in riskier assets like stocks, while safe-haven assets like gold may be somewhat restrained if there are no new geopolitical factors.
However, this increase still requires caution, as much of the strengthening is driven by euphoria over the AI sector. If concerns about overvaluation or profit-taking in global chip stocks emerge, the Japanese index could experience further correction.
For Asian markets, the Nikkei's rebound could have a positive impact on other regional indices, including the Hang Seng, Kospi, and the Jakarta Composite Index (JCI), particularly in the technology, electronics manufacturing, and foreign capital-sensitive sectors. (CP)
