Key Takeaways
- Japan’s Nikkei average rose 1.33% as Meta’s new AI gadget boosted CPU-related stocks.
- Ibiden, Socionext, Meiko Electronic and Ushio Inc saw significant gains, jumping over 10% each.
- Advantest’s share rise contributed the most to the Nikkei’s gains.
Japan’s Nikkei average saw a rise of 1.33% to 65,883.41 by midday on Thursday, following the launch of Meta’s new AI gadget, Meta Charm.
The broader Topix index edged up 0.12% to 4,096.01, with the market closed until Wednesday due to public holidays.
Meta CEO Mark Zuckerberg unveiled the small handheld gadget, which has sparked demand for key computer components, particularly CPUs.
Ibiden, a major component maker of CPUs, saw its shares surge by 15.47%, leading the gains among CPU-related companies.
Other companies such as Socionext, Meiko Electronic, and Ushio Inc also witnessed significant gains, with each company’s shares jumping over 10%.
Advantest, a chip-testing equipment maker, contributed the most to the Nikkei’s gains, rising 4.09%.
Despite the positive impact of Meta’s launch, the market was also influenced by rising yields, with Japan’s 10-year government bond yield reaching its highest point since August 1996.
Inflation concerns and a weakening yen also affected the market, with bank shares falling, particularly those of Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group.
Of the more than 1,500 stocks trading on the Tokyo Stock Exchange’s prime market, 53% rose, 43% declined, and 3% remained unchanged.
