Japanese stocks surge as technology shares lead broad market rally

Japanese equities rallied sharply on Wednesday, extending gains from the previous session as positive global cues boosted investor sentiment. The Nikkei 225 Index jumped 3.66% to close at 66,300, while the broader Topix Index advanced 2.13% to 4,046.

Market sentiment was supported by strong gains on Wall Street, where the Dow Jones and S&P 500 ended at record highs. Investors were also encouraged by a sharp decline in oil prices amid growing optimism over a potential interim agreement between the US and Iran to reopen the Strait of Hormuz, easing concerns about global energy supplies.

On the domestic front, economic data showed that Japan?s real wages rose for a sixth straight month in June. The data strengthened expectations that the Bank of Japan could continue with additional interest rate hikes in the coming months.

Technology stocks were the biggest gainers during the session. Kioxia Holdings rose 7.4%, Ibiden Co surged 24.5%, Advantest gained 8.8%, Lasertec advanced 5.9%, and SoftBank Group jumped 14%.

Other major stocks also recorded strong gains, with JX Advanced Metals rising 9.5%, Mitsubishi UFJ Financial Group adding 2.1%, and Fanuc Corp climbing 4.4%. The broad-based rally reflected improving risk appetite and optimism about both global and domestic economic conditions.

Powered by Capital Market - Live News