Japan's stock market rises as AI optimism lifts technology shares

Japan's Nikkei 225 Index rose 1.08% to close at 63,954 on Wednesday, marking its second consecutive session of gains. The market tracked Wall Street's positive performance as strong results and business developments in the technology sector boosted optimism around artificial intelligence (AI).

Sentiment improved after Broadcom announced $63 billion in financing linked to Anthropic's use of its technology. Oracle also expanded its partnership with OpenAI, while Meta's $25 billion share offering attracted demand five times higher than the amount offered. Meanwhile, South Korean chipmaker SK Hynix reported a sharp increase in revenue and operating profit, supported by strong demand for AI-related products.

Technology and AI-related stocks led the gains in Japan. Kioxia surged 13.8%, Taiyo Yuden rose 7.1%, Ibiden gained 7.9%, SoftBank Group advanced 4.7%, and Advantest climbed 3.2%.

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