SoftBank Group jumped more than 8% as shares of Japanese chip-related companies continued to outperform amid the AI euphoria that also propelled Wall Street peers. The Nikkei surged as high as 31,560.43 within the first 10 minutes of trading, although gains were capped over the course of the day as the index closed up 1.03% at 31,233.54.
Some of the world’s most famed investors are voicing a near consensus that Japan’s stock market is the place to be as its larger peers grapple with rising economic headwinds.
Up more than 12% in 2023, the Topix is already among the best performing national equity gauges in Asia and is beating a broader regional index by more than 8 percentage points.