Nikkei 225 Hits Record Closing High above 63,000

Tokyo, May 13 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average rose on Wednesday to close above 63,000 for the first time, aided by the strength of shares related to artificial intelligence technology and data centers. The index of 225 select issues on the Tokyo Stock Exchange’s top-tier Prime section closed at 63,272.11, up 529.54 points, or 0.84 pct, from Tuesday. The broader TOPIX index gained 46.58 points, or 1.20 pct, to 3,919.48. After opening lower on high crude oil prices, the Nikkei index turned around on buying of such issues as semiconductor maker Kioxia Holdings and Daikin Industries, which sells products for data centers, brokers said. Also behind the record-breaking advance was the firmness of companies that reported strong earnings, as well as the popularity of businesses that disclosed measures to improve capital efficiency, such as share buybacks and dividend increases. Given the strong investor appetite to buy data center-related names, a midsize brokerage house official said, “The uptrend of share prices will continue.” However, some players are getting cautious after the recent rapid rises, leading to selling of some semiconductor-related issues. END [Copyright The Jiji Press, Ltd.]