FX.co ★ Japanese Tech Shares Advance, Hitachi Leads Rally

The Nikkei 225 index climbed substantially, gaining 1.85% to close at 45,769, while the more comprehensive Topix index increased by 1.35%, reaching 3,129 at the close of trading on Friday. The Nikkei set a new record high, driven by enthusiasm for artificial intelligence which significantly boosted Japanese semiconductor stocks. The market sentiment was bolstered following OpenAI's $6.6 billion share sale that valued the company at $500 billion, igniting optimism across AI-related industries. Hitachi experienced a notable surge of 10.3% amid reports of partnering with OpenAI. Meanwhile, SoftBank Group rose by 3.6%, Advantest increased by 4.3%, and Tokyo Electron saw gains of 2.3%. On the political front, investors are preparing for a crucial leadership vote within the ruling party scheduled for this weekend. This vote will determine the successor to former Prime Minister Shigeru Ishiba and influence future fiscal and central bank policies, with ongoing debates on expanding household relief versus maintaining fiscal restraint.