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Nikkei average surges 3,320 points in record gain, led by AI and semiconductor stocks
The Tokyo stock market saw a sharp rise on the 7th, the first trading day after the Golden Week holidays, with the Nikkei average closing at 62,833.84, up 3,320.72 points from the previous trading day. The gain marked the largest single-day point increase on record and set a new all-time high. AI and semiconductor-related stocks have shown notable gains globally, driving the overall Tokyo market higher.
SoftBank Group Corp. <9984>, Kioxia Holdings <285A>, and Ibiden <4062> hit daily limit-up, while ADVANTEST CORPORATION <6857>, Tokyo Electron Limited <8035>, Fujikura Ltd. <5803>, and Shin-Etsu Chemical Co., Ltd. <4063> also surged sharply, pushing the Nikkei average significantly higher. The previous record single-day point gain was 3,217.04 points on August 6, 2024. That gain came the day after the Nikkei posted its largest single-day point decline amid market turmoil following a Bank of Japan rate hike and weaker-than-expected U.S. employment data, as buying aimed at a technical rebound pushed the index higher.
The percentage gain was 5.58%. This fell short of the 7th-largest gain on record (9.13%) on April 10 last year and the 4th-largest gain on record (10.23%) on August 6, 2024, and did not rank within the top 20 largest percentage gains. The NT ratio, which divides the Nikkei average by TOPIX, reached 16.36 times, setting a new record high.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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