Institution: Nikkei Index Rebounds as AI Boom Offsets Concerns Over Iran Conflict
1 day ago / Read about 0 minute
Author:小编   

On September 9, Japanese stocks rebounded on Wednesday as market concerns over escalating tensions in the Middle East were overshadowed by the AI boom. The Nikkei 225 index was last up 0.35%, having earlier fallen, while the Topix index rose about 0.24%. Maki Sawada, a stock strategist at Nomura Securities, said that Verizon's signing of a multi-billion-dollar deal with Corning to provide high-density fiber for AI infrastructure boosted confidence among Japanese cable makers such as Fujitsu. Sawada also stated that semiconductor and AI-related stocks performed strongly, contributing positively to the Nikkei 225 index. Additionally, the strengthening yen also impacted Japanese stocks, with expectations that the Bank of Japan could accelerate interest rate hikes as early as its meeting next week, keeping the yen's exchange rate near a seven-month high. Analysts at Sony Financial Group said in a report that the market has largely priced in expectations for yen appreciation, and after the initial selling momentum weakened, the market trend is expected to shift toward buying on dips.