Published on 10/05/2026 at 03:07 am EDT
(Reuters) - Japan's Nikkei share average posted a three-month closing high on Monday, driven by AI-related stocks after Wall Street's gains at the end of last week.
The Nikkei rose 2.4% to 69,946.4, its highest close since July 1. The broader Topix rose 1.33% to 4,145.22.
"Investors scooped up AI-related stocks, but market sentiment is muted compared with earlier this year when the Nikkei hit a record high," said Mamoru Shimode, chief strategist at Resona Asset Management.
"The AI rally will continue, but markets will be more selective."
US stocks advanced on Friday after weaker-than-expected jobs data dampened expectations of a Federal Reserve interest rate hike later this month.
In Japan, chip-related Advantest and Tokyo Electron rose 4,32% and 5.5%, respectively, on Monday to provide the biggest boosts to the Nikkei. Technology investor SoftBank Group rose 2.96%.
Memory chip maker Kioxia rose 0.94%, but was nearly 50% below the record high set in mid-June.
"Investors probably tried to buy Kioxia shares on the rise, but at the same time others who have losses in the shares sold stocks on a rally, which is why their gains are limited," Shimode said.
Bank shares rose, with Mitsubishi UFJ Financial Group and Mizuho Financial Group up 2% and 2.63%, respectively.
The Topix growth share index rose 1.43%, while the value share index gained 1.23%.
Of the more than 1,500 stocks on the Tokyo Stock Exchange's prime market, 55% rose, 40% fell, and 3% traded flat.
(Reporting by Junko Fujita; Editing by Harikrishnan Nair and Subhranshu Sahu)

Sumber : Reuters