The Tokyo Stock Exchange’s benchmark Nikkei index briefly surged to an all-time intraday high on Thursday, lifted by stronger than expected results from Nvidia and a wave of positive earnings from domestic corporations. Analysts noted the move as a sign of improving sentiment across export-oriented sectors and tech-related names.
The Nikkei 225, which tracks the performance of the 225 most representative stocks on the market, climbed as high as 1.73% during the morning session and reached 38,924.88 points at 10:16 local time (1:16 GMT). It later pulled back slightly, but still remained above its previous record close of 38,915.87 points set on December 29, 1989, during Japan’s late bubble era.
The opening of the trading day came with notable vigor, as the index benefited from Nvidia’s quarterly results that surpassed expectations. The upbeat results fed investor optimism around semiconductor and tech-related equities. Earlier in the week, the Nikkei flirted with its all-time peak but had stalled due to a lack of new catalysts driving a fresh high.
Contributing to the strong performance were gains from the broader tech sector and solid earnings reported by many Japanese firms. A weaker yen provided additional support for exporters, a dynamic likely to persist given differing monetary policy paths between Japan and other major economies. Meanwhile, minutes from the U.S. Federal Reserve indicated policymakers are not prepared to cut rates until inflation demonstrates clear and sustained progress toward the 2% target.
Among the most actively traded components in the early hours were Lasertec, a maker of analysis equipment for semiconductors, Tokyo Electron, a leading chip producer, and Advantest, another player in the same sector. Their stocks rose by about 2.7%, 3.7%, and 4.65% respectively as the Nikkei touched its intraday peak before moderating gains.