Tokyo stocks end higher


Tokyo stocks ended higher on Thursday on the back of bumper results from US chip giant Nvidia.

The benchmark Nikkei 225 index added 1.26 percent, or 486.12 points, to end at 39,103.22, while the broader Topix index was up 0.64 percent, or 17.39 points, at 2,754.75.

The dollar stood at 156.66 yen, against 156.75 yen in New York late Wednesday.

After the US market close, Nvidia said its quarterly revenue hit a new high on demand for chips to power artificial intelligence in data centres.

The California-based company reported net profit of $14.9 billion, while its revenue of $26 billion was up almost four times on-year.

Nvidia “saw the future earlier than anyone else and was thus well positioned to take advantage of the major shifts in the computing industry towards parallelisation and advancements in machine learning,” said Peter Garnry, head of equity strategy at Saxo Bank.

The result fuelled hope that “the rapid growth of artificial intelligence will continue, prompting the widespread buying of related shares in Tokyo,” IwaiCosmo Securities said.

Among major shares in Tokyo, SoftBank Group spiked 4.28 percent to 8,730 yen, Sony Group edged up 0.59 percent to 12,885 yen and Toyota climbed 0.44 percent to 3,403 yen.

Heavily weighted Fast Retailing advanced 1.08 percent to 41,120 yen.


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