Japan's Nikkei Hits 34-Year High, Fueled by Tech and Earnings

The Nikkei average soared to its highest level since 1990, driven by strong tech shares and corporate earnings, marking a significant milestone for the Japanese stock market.

• Japan's Nikkei average reached a fresh 34-year high, climbing to 37,963.97, its highest point since January 1990.
• Tech-related shares, particularly in the chip sector, and robust corporate earnings were key drivers of the stock index's performance.
• ARM Holdings' better-than-expected quarterly results, spurred by demand for AI chip technology, contributed significantly to the rally.
• Japanese equities also benefited from a strong showing on Wall Street and a weakened yen, enhancing the value of overseas revenue for exporters.
• Among the top gainers were Tokyo Electron, MS&AD Insurance Group Holdings, and Tokio Marine Holdings, while Otsuka Holdings faced declines due to a failed drug trial.

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