financetom
Market
financetom
/
Market
/
Japan's Nikkei rises as tech shares gain on AI investment plans
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan's Nikkei rises as tech shares gain on AI investment plans
Jan 21, 2025 7:45 PM

TOKYO, Jan 22 (Reuters) - Japan's Nikkei share average

rose on Wednesday, as investors scooped up SoftBank Group and

other technology stocks after U.S. President Donald Trump

announced a private sector investment of up to $500 billion to

fund AI infrastructure.

The Nikkei had risen 1.48% to 39,604.71 by the

midday break. Earlier in the day, it hit its highest level since

Jan. 9 at 39,647.83.

Trump said that ChatGPT's creator OpenAI, SoftBank Group

and Oracle are planning a joint venture called

Stargate, which he said will build data centres and create more

than 100,000 jobs in the United States.

"Today's market is dominated by the news about Trump's AI

investment announcement. Investors have already shrugged off

concerns about his tariff plans and instead focused on positive

elements," said Shuutarou Yasuda, a market analyst at Tokai

Tokyo Intelligence Laboratory.

SoftBank Group jumped 9%, providing the biggest

boost to the Nikkei. Chip-testing equipment maker Advantest ( ADTTF )

, a supplier to Nvidia ( NVDA ), rose 3.94% and

chip-making equipment maker Tokyo Electron ( TOELF ) gained

2.31%.

Makers of materials for data centres also rose, with

Furukawa Electric ( FUWAF ) and Fujikura ( FKURF ) surging 12% each

to become the top gainers on the Nikkei.

The broader Topix rose 0.94% to 2,738.91, posting a

smaller gain than the Nikkei as financial stocks fell.

Insurer Tokio Marine Holdings ( TKOMF ) fell 1.2% and

Dai-ichi Life Holdings ( DCNSF ) lost 0.96%.

Banks fell, with Mizuho Financial Group ( MFG ) and

Sumitomo Mitsui Financial Group ( SMFG ) slipping 0.23% and

0.32%, respectively.

Topix's growth index rose 1.22%, while the value

share index gained 0.67%.

Of the more than 1,600 shares trading on the Tokyo Stock

Exchange's prime market, 65% rose and 30% fell, with 3% flat.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Apple, Nio, CVS Health, Stellantis, Tesla: Why These 5 Stocks Are On Investors' Radars Today
Apple, Nio, CVS Health, Stellantis, Tesla: Why These 5 Stocks Are On Investors' Radars Today
Oct 2, 2024
U.S. markets closed Monday slightly higher, with the Dow Jones Industrial Average edging up 0.04% to 42,330.15, while the S&P 500 gained a similar 0.04% to reach 5,762.48. The Nasdaq also rose by nearly 0.04%, closing at 18,189.17. These are the top stocks that gained the attention of retail traders and investors throughout the day: Apple Inc ( AAPL )...
EMERGING MARKETS-Assets ease as investors pare aggressive US rate cut bets
EMERGING MARKETS-Assets ease as investors pare aggressive US rate cut bets
Oct 2, 2024
* China markets closed Oct. 1-7 for National Day holidays * Sri Lanka to discuss shape of IMF deal in Washington meetings * CEE's manufacturing downturn continues but bright spots appear * Turkish manufacturing sector contracts further in Sept By Ankika Biswas Oct 1 (Reuters) - Emerging market stocks and currencies started October on a sombre note, as Federal Reserve...
S&P Records First Positive September Since 2019 Amid Improving Investor Sentiment: Fear Index Moves To 'Extreme Greed' Zone
S&P Records First Positive September Since 2019 Amid Improving Investor Sentiment: Fear Index Moves To 'Extreme Greed' Zone
Oct 2, 2024
The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, with the index moving to the “Extreme Greed” zone on Monday. U.S. stocks settled higher on Monday, with the S&P 500 recording its first positive September month since 2019. In the month, the Dow Jones gained 1.9%, while the Nasdaq rose 2.7%. The S&P 500...
US STOCKS-S&P 500 ekes out record closing high; declines briefly after Powell
US STOCKS-S&P 500 ekes out record closing high; declines briefly after Powell
Oct 2, 2024
* CVS gains after report Glenview to meet with executives * Investors digest Powell comments at conference * Indexes up: Dow up 0.04%, S&P 500 up 0.4%, Nasdaq up 0.4% (Updates to 4:45 p.m. ET) By Caroline Valetkevitch NEW YORK, Sept 30 (Reuters) - The S&P 500 sputtered to a record high close on Monday, rebounding from a brief setback...
Copyright 2023-2025 - www.financetom.com All Rights Reserved