Tokyo stocks extended their historic rally on April 27, propelled by a frenzy in blue-chip AI and semiconductor names. The Nikkei 225 surged over 1,100 yen intraday to touch the 60,900 level before finishing at 60,537.36 yen?up 821.18 yen from the previous session and marking its first-ever close above the 60,000-yen milestone.

Market activity was robust, with Prime Market volume reaching 2.31 billion shares and trading value hitting 8.36 trillion yen. However, market breadth remained surprisingly thin; despite the index's record leap, decliners (838) actually outnumbered advancers (684), highlighting a "distorted" rally driven by index-heavyweights.

The charge was ignited by a stellar performance in U.S. markets on Friday. While the Dow dipped, the Nasdaq hit a record high, and the Philadelphia Semiconductor Index (SOX) skyrocketed over 4%. The SOX has now logged an extraordinary 18-session winning streak, roughly doubling in value over that period. This gave overseas investors a green light to pour capital into Tokyo’s tech leaders, brushing aside Middle East tensions and upcoming central bank meetings.

In individual movers, KIOXIA <285A> topped the trading value charts. Semiconductor equipment giants ADVANTEST <6857>, DISCO <6146>, and TOKYO ELECTRON <8035> saw sharp gains. The "physical AI" theme?robotics and hardware?was particularly electric: FANUC <6954> hit its daily limit-up, while KEYENCE <6861> and SANYO DENKI <6516> also surged to their limits. HARMONIC DRIVE SYSTEMS <6324> and RIGAKU <268A> posted standout gains, alongside PANASONIC <6752>.

Conversely, SOFTBANK GROUP <9984> and FURUKAWA ELECTRIC <5801> underperformed. Defense and heavy industry names saw weakness, with MITSUBISHI HEAVY INDUSTRIES <7011> and IHI <7013> sliding. CHUGAI PHARMACEUTICAL <4519> faced a sharp sell-off, while shipping firm MITSUI O.S.K. LINES <9104> and paper manufacturer NIPPON PAPER INDUSTRIES <3863> also declined.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.