Japan's Nikkei 225 hits historic milestone above 59,000 on software surge. The benchmark index reached an intraday peak of 59,332.43 before closing at 58,753.39, marking an all-time closing high and reflecting a 16.4% gain year-to-date. Software-related shares led the rally as investor concerns about artificial intelligence disruption eased, with Shift jumping 14.4% and IT service firms NEC and Fujitsu advancing significantly. However, profit-taking emerged as markets digested strong Nvidia earnings, causing some index weakness. Banking stocks also performed well following Bank of Japan Governor Kazuo Ueda's signals of a potential early rate hike, with Mizuho Financial and Mitsubishi UFJ gaining over 3%. The Nikkei's technical indicators suggest the rally has stretched considerably, with the relative strength index above 70, signaling potential consolidation ahead.
Post from MarketNews_en
Log in to interact with content.