Nikkei Soars, Japanese Stocks Join AI Euphoria
Japanese stocks closed higher on Thursday, following a Wall Street rally driven by renewed buying in AI-related stocks. The Nikkei 225 rose 1.8%, or 845 points, to 48,580.44, signaling investors were more focused on corporate performance prospects and hopes for a Fed rate cut, although the ongoing earnings season will test that optimism.
On a fundamental level, the Japan Economists Survey Index edged up to 47.1 in September, reflecting support from household demand that offset weakness in food and beverage production. On the corporate front, Hitachi Construction Machinery entered a five-year partnership with Rio Tinto's Technological Resources unit to develop a remote/semi-autonomous system for giant excavators. Tokyo Electric Power has set aside 100 billion yen to support jobs, industry, and decarbonization in Niigata while awaiting local approval for the restart of the Kashiwazaki-Kariwa nuclear power plant. Topcon will hold an extraordinary general meeting on November 11 to approve share consolidation and related amendments (including the plan to become "TK Co."). (az)
Source: Newsmaker.id
