Nikkei Gains Over 4% on Tech Rally
The Japanese market experienced a strong rally, with the Nikkei index rising by over 4.7% to reach 64,781.35 points, supported by gains in technology stocks such as Microsoft, which boosted investor sentiment after announcing forecasts that eased concerns over hefty spending on artificial intelligence. This coincided with a 1.7% increase in the US S&P 500 and a 2.8% rise in the Nasdaq index. Meanwhile, the Bank of Japan kept interest rates unchanged but expressed concerns about inflation surpassing its target, hinting at the possibility of raising rates again. Additionally, the government intervened to support the yen, which appreciated by up to 3.6% against the dollar for the first time in three months.
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