Nikkei Index Regains 70,000 Level During Trading for First Time in Three Months
Easing U.S. Rate Hike Concerns
AI and Semiconductor Stocks Surge
The Nikkei 225 Average Stock Price (Nikkei Index), Japan's benchmark stock index, temporarily regained the 70,000 mark during trading on October 5.
On this day at the Tokyo stock market, the Nikkei Index showed strong performance, rising as much as 2.58% from the previous session's closing price to reach 70,072.13 at one point during trading. This is the first time in about three months since July 6 that the Nikkei Index has surpassed the 70,000 level during trading hours.
This upward trend is interpreted as a direct continuation of the strong momentum seen on the New York Stock Exchange on October 2. Investor sentiment has improved sharply as concerns over additional interest rate hikes by the U.S. Federal Reserve (Fed) have eased.
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On the Tokyo stock market that day, artificial intelligence (AI) and semiconductor-related technology stocks led the market rally. The share price of Advantest, a leading semiconductor testing equipment company, surged as much as 5.3% during trading.
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