From Nasdaq:

Japan’s Nikkei share average surged to a record high, up 1.4% at 39,693.27, surpassing the previous intraday peak. The index has risen 17% this year, hitting all-time highs on multiple occasions. Tech stocks, particularly those related to AI, drove the gains following U.S. market performance and hints of a potential interest rate cut.

The broader Topix index also climbed 0.85% to 2698.57, showing positive market sentiment. S&P 500 and Nasdaq reached record highs, bolstered by tech stocks. Inflation data and comments from Federal Reserve officials hint at a possible interest rate cut in June. Tech-related shares like Tokyo Electron and Advantest saw notable increases.

Insurance and mining sectors led the gainers on the Tokyo Stock Exchange, up 2% and 3%, respectively. Overall, the market showed strength and optimism following the performance of U.S. markets and the potential for changes in interest rates. Tech stocks and key industry sectors are driving the market growth.



Read more at Nasdaq: Japan’s Nikkei at record high as tech shares track Wall Street gains