Japan?s Nikkei rises for third straight session on strong chip sector earnings

Japan?s Nikkei 225 Index rose 1.1% to close at 64,659 on Thursday, extending its gains for a third consecutive session. The market was supported by strong earnings expectations in the chip equipment sector, with Advantest shares surging 6% after the company raised its full-year earnings forecast on stronger-than-expected demand for AI chip-testing equipment.

Other technology stocks also gained, with Kioxia rising 1.2%, Ibiden advancing 2%, and Tokyo Electron climbing 2.4%. However, disappointing results from Alphabet and Samsung Electronics raised concerns over the sustainability of heavy AI investments and high technology stock valuations, limiting the market?s overall gains.

Investors are also focusing on the Bank of Japan?s upcoming policy meeting. The central bank is widely expected to keep interest rates unchanged, while its guidance may offer clues about a possible rate hike in December as inflationary pressures persist.

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