The Nikkei 225 jumped 2.87% to finish at 60,459 on Tuesday, marking a second straight session of gains and mirroring the strong overnight rally on Wall Street as semiconductor shares rebounded from last week’s steep selloff. Sentiment toward the artificial intelligence sector also improved after coming under pressure last week on worries about tighter regulatory oversight and a potential slowdown in data center expansion following the Democrats’ sweeping victory in the US midterm elections.
Investors are now turning their attention to upcoming earnings from neocloud firm CoreWeave for further signals on the durability of the AI-driven trade. Semiconductor-related names led the advance in Tokyo, with notable gains in Kioxia Holdings (9.2%), Advantest (4.6%), Tokyo Electron (6.1%) and SoftBank Group (13.9%). This rally unfolded despite intensifying scrutiny of chipmaking heavyweight Nvidia amid controversy surrounding its CEO, Jensen Huang.
