FX.co ★ Japanese Shares Rise in Broad Gains

On Thursday, the Nikkei 225 Index experienced a 0.4% increase, reaching approximately 51,260, while the broader Topix Index advanced by 0.5%, setting new record highs at 3,375. This upward movement was part of a wider market rally, fueled by heightened optimism regarding the potential resolution of the protracted US government shutdown this week, which positively influenced global market sentiment. Significant gains were observed among major contributors to the index, including Fujikura, which increased by 2.8%, Advantest at 2.5%, Mitsubishi UFJ with a 2.4% rise, Tokyo Electric Power at 3%, and Furukawa Electric soaring by 8.6%. Toyota Motor also saw a modest increase of 0.3% after unveiling a strategic plan to invest up to $10 billion in the United States over the next five years to bolster its operations. In contrast, SoftBank Group faced a decline, dropping 5.9%, and marking a 25% decrease from its all-time highs. This was attributed to escalating losses in its technology and AI-related investments. In response, SoftBank divested its entire $5.83 billion stake in US chipmaker Nvidia to concentrate its resources on OpenAI. On the economic data front, Japan reported a higher-than-anticipated rise in producer prices for October.