Japan's Nikkei 225 Stock Average climbs 0.8% to surpass the key psychological level of 40,000 for the first time, driven by greater corporate earnings and a surge in chip-related stocks, thanks to enthusiasm for beneficiaries of artificial intelligence.
The Nikkei Stock Average had climbed 19% so far this year through Friday, after having risen 28% in 2023, driven by the return of modest inflation, improvements in corporate governance and a weaker yen, which boosts the value of corporate profits earned overseas in yen terms. A surge in chip stocks led the latest gains.