Business Recorder
TOKYO: Japan’s Nikkei share average climbed more than 3.5% on Thursday, its biggest gain in two weeks, on renewed enthusiasm for technology stocks and easing geopolitical tensions linked to the Iran war. The benchmark Nikkei 225 Index climbed 3.58% to 61,945.34, and is set for its sharpest daily gain since May 7, if the current momentum holds. The broader Topix climbed 2.21% to 3,875.34. The Nikkei mirrored Wall Street gains ahead of earnings from AI bellwether Nvidia, which forecast sales above market estimates. Oil prices dropped sharply overnight after U.S. President Donald Trump said negotiations to end the war in Iran were in the final stages, easing supply concerns. Investor sentiment also got a boost from an averted labour strike at Samsung Electronics, which could have disrupted South Korea’s economy and global chip supply, and from reports that OpenAI is preparing to go public. SoftBank Group , a major investor in the company and other AI ventures, surged to its daily limit. “The market is being led by AI and semiconductor-related shares following developments including the avoidance of a strike at Samsung Electronics and Nvidia’s earnings,” said Wataru Akiyama, an equities strategist at Nomura Securities. “We’re seeing gains across a wide range of sectors due to the drop in crude oil prices.” There were 156 advancers in the Nikkei index against 69 decliners. The largest percentage gainers were SoftBank Group, up 19.9%, followed by Socionext, which jumped 17.2%, and Ibiden, trading 15.2% higher.
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