Key Takeaways
- Japan's Nikkei share average increased by 1.91%.
- Advantest, a chip-testing equipment maker, saw a 10% surge.
- Technology stocks, including SoftBank Group, gained significantly.
Japan's Nikkei share average rose by 1.91% to 63,374.45, marking a recovery from a three-session losing streak.
The broader Topix index also saw gains, rising 0.61% to 3,997.09.
The market's upward momentum was attributed to the news of Anthropic's initial public offering (IPO) filing, which lifted AI-related stocks.
Chip-testing equipment maker Advantest contributed significantly to the Nikkei's gains, surging by 10%.
Technology investor SoftBank Group saw a 6.94% increase, while chip-making equipment maker Tokyo Electron rose by 3.35%.
The US broader Philadelphia chips index also rose by 2.8% overnight, influencing the Nikkei's performance.
Daisuke Hashizume, senior strategist at Daiwa Securities, noted that the market was relieved by Anthropic's IPO news, while heavyweight technology stocks tracked the rise in the US chip index.
However, caution remained among investors, who were wary of actively buying stocks ahead of earnings reports from US hyperscalers such as Alphabet and Microsoft.
Of the more than 1,500 stocks trading on the Tokyo Stock Exchange's prime market, 49% rose, 47% fell, and 2% traded flat.
