Nikkei 225 Jumps 4.4% Past 64,500 as AI Chip Rally Lifts SoftBank, Advantest
Updated
Updated · tradingkey.com · Jul 31
Nikkei 225 Jumps 4.4% Past 64,500 as AI Chip Rally Lifts SoftBank, Advantest
3 articles · Updated · tradingkey.com · Jul 31
Summary
64,572.03 marked a 4.37% jump for the Nikkei 225 on July 31, after the index briefly crossed 65,000 and gained more than 3,000 points intraday.
SoftBank hit its daily limit up 15.14%, Advantest climbed 16.95% after touching an 18% gain, and Tokyo Electron rose 8.13%, leading a broad semiconductor-driven advance.
An overnight US tech surge fueled the move: Microsoft and other cloud groups posted stronger-than-expected earnings, pushing the Philadelphia Semiconductor Index up more than 8%, with SanDisk up about 26% and Micron over 18%.
South Korea joined the breakout, with the Kospi surging more than 16% intraday as SK Hynix jumped as much as 29% and Samsung Electronics more than 25%.
The rally came despite yen headwinds ahead of the Bank of Japan decision, after Japan's finance ministry intervened to buy yen and the currency briefly strengthened about 2% against the dollar.