TOKYO: The Nikkei share gauge rose on Friday, supported by a rally in AI-related stocks, while the country’s bond market and currency also advanced on a potential redirection in the investment strategy of Japan’s vast pension funds.
The benchmark Nikkei 225 closed 1.2 percent higher at 68,557.73, after rising as much as 2.4 percent earlier in the session. The broader Topix edged up 0.39 percent to 4,036.08. The yield on Japan’s 10-year government bond fell 11.5 basis points (bps) to 2.76 percent, retreating from a three-decade high. The yen strengthened 0.5 percent against the greenback to 161.550.
Tech shares on Wall Street soared after chipmaker Micron Technology laid out plans to invest more than USD250 billion in the United States through 2035.
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