After a new record on the 4th, just five days later
Semiconductor stocks rally led by Nasdaq tailwind
The Nikkei 225, Japan's representative stock market index, has once again reached an all-time high after five days.
On the 9th, the Nikkei index closed at 41,580, up 799.47 yen (1.96%) from the previous session. Following the record high of 40,913 set on the 4th, marking the highest level in over three months, the record was broken again after five days.
The rise in the Nikkei index is attributed to the positive momentum from the previous day’s New York stock market, where the S&P 500 and Nasdaq indices hit all-time highs. With strong performances from AI and semiconductor-related stocks such as Nvidia in the New York market, buying interest also concentrated on semiconductor stocks in the Tokyo market.
Among individual stocks, Japanese semiconductor materials manufacturer Resonac Holdings stood out with an 8.6% surge. Resonac announced the day before that ten companies from the US and Japan have formed a coalition called 'US Joint' in Silicon Valley, USA, to develop next-generation semiconductor materials and manufacturing technologies. US Joint plans to develop post-processing technologies such as final assembly of semiconductors to meet the demand from major US IT companies like Google and Amazon.
As circuit miniaturization in semiconductor processes reaches physical limits, the industry is focusing on post-processing technologies that combine multiple semiconductor chips to enhance performance. Mitsuhiro Shibata, Senior Strategist at Yamato Securities, explained, "The importance of post-processing development is increasing, and the technology is progressing smoothly."
Alongside Resonac, Tokyo Ohka Kogyo and Towa, also participants in US Joint, rose by 5% and 4.3% respectively, continuing the upward trend. Additionally, semiconductor equipment maker Tokyo Electron and semiconductor materials, parts, and equipment (SoBuJang) company Advantest recorded gains in the 4% range.
The Nihon Keizai Shimbun (Nikkei) noted that in addition to the positive momentum from the US stock market, the inflow of funds from overseas investors, represented by 'oil money,' also fueled the upward trend in the Tokyo stock market. A market insider said, "I heard that a securities firm purchased 10 billion yen (approximately 860 million USD) worth of stocks in 14 major stocks based on oil money in early July," adding, "They probably placed orders with other securities firms as well."
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