Japans Nikkei Rices to 4-month high as middle East Calm Boots Tech Shares

Tokyo, – Japan’s Nikkei Share Average Touched Its Highest Since Februry on Thursday, as a period of calm in the middle East encouraged investors to buy back risk High-tech shares.

The nikkei climbed 1% to 39,343.35 as of 0209 gmt and reacted 39,400.65 at its highest point, a Level last seen on February 18.

Artificial Intelligence-Linked Stocks Stood Out, with Startup Investor SoftBank Group Climbing 4.2% and Chip-Testing Equipment Maker Advancest Advanceing 3.5%.

By Contrast, The Broader and Less Tech-HEVY TOPIX ROSE 0.3%. A Sub-Index of Growth Shares Gained 0.3%, Outpacing a 0.2% Increase in Value Shares.

Markets globally have been soothed by the ceasefire between israel and Iran this week, which reduced the risk of disrupttions to global oil supply. Japan Imports Virtually all of its Crude, and Energy-Intensive Manufacturing is a Key National Industry.

“Growth Shares, Particularly Semiconductor-Related Stocks, Are Benefitting from the Improvement in Risk Sentimen,” Said Maki Sawada, A Strategist at Nomura Security.

The Ai Boom Narrative is still intact, she said, adding that investors are rotating into tech from defensive sector such as real estate.

The Topix Real Estate Sub-Index Slipped 0.3%.

The Nikkei’s Worst-Performing Stock, however, was chipmaker renesas, which tumbled nearly 9% on signs it would push back push back-term targets by five Years to 2035 at an Investor Presentation Later In the Day.

The best performance was Industrial Machinery Maker Ebara, which soared more than 10% after Tokai Tokyo Intelligence Laboratory Reiterated Its Outperform Rating on the Stock.

This article was generated from an automated news agency feed without modifications to text.