Buffett Boosts Japanese Stocks
Japanese stocks rallied after Berkshire Hathaway increased its stake in Mitsubishi Corp., fueling positive sentiment and boosting interest in value stocks. The TOPIX rose 0.7% to 3,089.78, while the Nikkei also added 0.7% to 42,828.79 at the close of trading in Tokyo.
The biggest surge occurred in sōgō shōsha (trading house) stocks after Mitsubishi confirmed Berkshire's stake had surpassed 10%. Analysts believe the "Buffett effect" remains strong, and expectations of foreign investors buying Japanese equities continue to rise.
Market gains were tempered after Nvidia provided a tepid revenue forecast, signaling a slowdown in growth after the AI spending boom of the past two years. Despite uncertainty surrounding China, performance outside that segment was considered to be good and did not trigger major negative shocks. (ayu)
Source: Newsmaker.id