The Nikkei 225 climbed 0.8 per cent to 42,179.84, again surpassing its all-time high after closing at records on Tuesday and Wednesday
Asian shares rose Thursday, tracking a strong rally on Wall Street, with Japan’s Nikkei 225 index surging over 42,000 for the first time.
On Wednesday, the U.S. stock market vaulted to more all-time highs, led by big technology firms whose shares have been surging due to the frenzy over AI.
Hopes for cuts to interest rates also have pushed markets higher.
The Nikkei 225 climbed 0.8 per cent to 42,179.84, again surpassing its all-time high after closing at records on Tuesday and Wednesday.
The Hang Seng in Hong Kong jumped 1.1 per cent to 17,667.58.
The Shanghai Composite index was 0.7 per cent higher at 2,959.25, while the Kospi in Seoul added 0.8 per cent to 2,891.34.
Australia’s S&P/ASX 200 gained 1 per cent to 7,894.30. Taiwan’s Taiex added 1.1 per cent as Taiwan Semiconductor Manufacturing Corp. climbed 2.4 per cent.
TSMC’s U.S.-listed shares added 3.5 per cent after it said its revenue jumped almost 33 per cent in June from a year earlier. The firm makes chips for Nvidia and others that have been driving the business world’s rush into AI technology.
The promise of big profits in the future from artificial intelligence has sent Nvidia in particular to breathtaking heights over the past year, and Nvidia added another 2.7 per cent Wednesday to bring its gain for the year so far to 172.5 per cent. It was again the strongest single force pushing the S&P 500 upward as the rally on Wall Street stretched into a seventh day as big technology firms led the way.
The S&P 500 climbed 1 per cent and topped the 5,600 level for the first time, closing at 5,633.91.
The Nasdaq composite surged 1.2 per cent to 18,647.45, and the Dow Jones Industrial Average added 1.1 per cent to 39,721.36.
