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Nikkei and Taiex lead gains in Asia, as tech stocks rally on renewed AI enthusiasm
Asia-Pacific markets rose Thursday, tracking gains on Wall Street fueled by a tech rally.
Japan’s Nikkei 225 jumped 3.41% to close at 36,833.27 and The Taiwan Weighted Index advanced 2.96% to finish at 21,653.25.
During the trading session, chipmakers and related companies extended the global chip rally, as the bullish investor sentiment spilled over to Asia.
Tokyo Electron rose 4.8%, Advantest was up 9% and Renesas Electronics was 3.47% higher. SoftBank Group, which owns a stake in chip designer Arm, jumped 8.4%.
In South Korea, the Kospi was 1.67% higher and the small cap Kosdaq gained 3%. SK Hynix and Samsung Electronics soared over 8% and 1.85%, respectively.
Taiwan Semiconductor Manufacturing Company closed 4.79% higher and Hon Hai Precision Industry — known internationally as Foxconn — up 4.72%.
Asian chipmaking heavyweights rallied after Nvidia CEO Jensen Huang made a compelling case for the future demand for AI chips.
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