Last updated: March 3, 2024 at 10:36 PM ET
First Published: March 3, 2024 at 10:25 PM ET
HONG KONG — Japan’s Nikkei stock average index topped 40,000 yen for the first time on Monday, as strong demand for technology stocks continued to push the index higher.
By midday in Tokyo, the index JP:NIK was up 0.8% to 40,226.83.
Stocks of computer chip companies rose, with Renesas Electronics JP:6723 soaring 5.8% and Advantest…
HONG KONG — Japan’s Nikkei stock average index topped 40,000 yen for the first time on Monday, as strong demand for technology stocks continued to push the index higher.
By midday in Tokyo, the index JP:NIK was up 0.8% to 40,226.83.
Stock prices of computer chip-related companies such as Renesas Electronics rose.
6723
Advantest also jumped 5.8%.
6857
It increased by 3.9%.olympus
7733
It increased by 7.4%.
Japanese stock prices have followed gains in other markets on expectations for strong demand for artificial intelligence-related technologies.
It is also supported by the Bank of Japan’s continued monetary easing policy, injecting money into the economy to support growth. These policies made the Japanese yen weaker relative to the US dollar and other major currencies, boosting exporters’ profits.
Tokyo’s stock gains followed strong gains on Wall Street on Friday, with the S&P 500 SPX up 0.8%. The Dow Jones Industrial Average DJIA rose 0.2%, and the Nasdaq Composite Index COMP rose 1.1%.
Excitement about artificial intelligence technology has driven progress.Dell
Dell
The price has soared more than 30%.