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Foreign Markets - Detailed News

Japanese shares rally to fresh record on AI-driven tech gains
07-May-26   15:21 Hrs IST
Japan's Nikkei 225 Index jumped 5.58% to close at a record high of 62,834 on Thursday in post-holiday trading, as local markets caught up with the global technology rally. Investor sentiment was supported by strong earnings from major tech companies, which strengthened optimism around artificial intelligence and lifted semiconductor-related shares.

SoftBank Group led the rally, surging more than 18% to a six-month high and recording its best daily performance since 2020. Chip-testing equipment maker Advantest gained 6.8%, while semiconductor equipment supplier Tokyo Electron advanced 9%. Other notable technology gainers included Fujikura, Lasertec, and Disco Corporation.

Market confidence also improved after reports indicated that the US and Iran are nearing a one-page, 14-point memorandum of understanding to ease tensions and end the conflict. The agreement could eventually support the reopening of the Strait of Hormuz and provide a basis for broader nuclear negotiations.

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