Nikkei Rises Sharply, SoftBank and Kioxia Leading the Rise
Newsmaker.id - The Nikkei 225 index surged 1.5% to above 68,700 on Friday (July 10th), while the Topix index rose 0.8% to 4,052. The Japanese stock exchange extended its gains for the second consecutive session, following Wall Street's gains in the previous session.
Market sentiment was supported by a rally in semiconductor stocks, which boosted investor interest in the technology sector. Strengthening chip stocks in the United States also boosted optimism that demand for the technology and artificial intelligence industries remains strong.
The decline in oil prices also provided additional support for the Japanese stock market. The easing in energy prices helped ease inflation concerns and ease the burden on the Japanese economy, which is heavily dependent on imported oil and energy commodities.
However, investors are closely monitoring Japanese producer price data, which rose at the fastest pace in more than three years. This increase indicates that cost pressures persist, particularly due to the impact of the Middle East conflict on energy prices and global supply chains.
Technology stocks led the gains, with SoftBank Group surging 7.9%, Murata Manufacturing rising 5.5%, and Kioxia Holdings gaining 5.4%. Advantest also rose 3.3%, while Tokyo Electron added 2.2%. (CP)
