TOKYO, July 31 (Reuters) - Japan's Nikkei share average
jumped more than 4% on Friday, buoyed by a rally on Wall Street
as Microsoft ( MSFT ) led a rebound in tech shares after
delivering forecasts that eased fears about the industry's
massive AI infrastructure spending.
The Nikkei surged 4.7% to 64,781.35 by 0025 GMT in
its second straight session of gains, while the broader Topix
rose 1.4%.
Chip-testing equipment manufacturer Advantest ( ADTTF )
gained 18%, chip-making machinery maker Tokyo Electron ( TOELF )
climbed 9.3% and AI-focused startup investor SoftBank Group
climbed 15%.
Overnight, the U.S. S&P 500 gained 1.7% and the
tech-heavy Nasdaq climbed 2.8%.
The Bank of Japan will announce its monetary policy decision
later in the day. The central bank is widely expected to keep
policy steady and signal its resolve to continue pushing up
borrowing costs, as mounting price pressures from the weak yen
and Middle East conflict risk driving underlying inflation above
its target.
The policy announcement does not come at a set time, but is
expected around 0330-0430 GMT.
On Thursday, Japanese officials conducted their first
currency intervention in three months to prop up the yen, a
market source said, sending it up as much as 3.6% from near a
four-decade low to the U.S. dollar.
(Reporting by Kevin Buckland; Editing by Subhranshu Sahu)