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45 minutes ago
Japan’s Nikkei Stock Average exceeds 39,000 yen as solid earnings and investor-friendly policies promote risk-on sentiment
Japan’s Nikkei average hit a record high on Thursday, supported by banking, electronics and consumer stocks, as strong earnings and investor-friendly policies this year fuel a ferocious rally in Japanese stocks. .
The Nikkei Stock Average rose nearly 2% to 39,029 yen, surpassing its all-time high of 38,915.87 yen set in 1989.
Both the Nikkei Stock Average and the broader TOPIX continue to be outstanding outperformers in the Asia-Pacific region, rising more than 10% so far this year after surging more than 25% in 2023, respectively. This is the highest annual increase in at least a decade.
—Clement Tan
1 hour ago
Nikkei Stock Average rises nearly 2%, supported by banking, electronics and consumer stocks
Japan’s Nikkei Stock Average led the rally in Asia, at one point surpassing its all-time high set in 1989, supported by a combination of banking, electronics and consumer stocks.
The index rose 1.92% on Thursday, with Aozora Bank being the biggest gainer, rising 8.21%.
Electronics company Furukawa Electric and petrochemical company Resonac Holdings rose 4.7% and 3.97%, respectively.
Leading stocks in other indexes also rose in value. Tokyo Electron rose 5.74% and Softbank rose 5.33%. Fast Retailing rose 2.41%.
—Li Yingshan
6 hours ago
Stock prices of EV players Lucid and Rivian fall
Lucid Group shares fell nearly 7% in after-hours trading as the electric car company missed out on profits due to widening losses. Lucid reported revenue of $157 million in its most recent quarter, below LSEG’s (formerly Refinitiv) estimate of $180 million.
Rivian Automotive shares plunged 13% after the company reported steep losses and announced it would cut 10% of its salaried workforce. Rivian expects EV production this year to be far lower than Wall Street expected, hurt by downtime for factory upgrades and a slowdown in EV demand due to high interest rates.
— Yun Lee
6 hours ago
Nvidia’s data center business grows by more than 400%
Nvidia’s high-profile data center business posted revenue of $18.4 billion in the fourth quarter, up 409% from the same period last year.
This segment includes the company’s H100 graphics card, which is widely used to power generative artificial intelligence apps such as OpenAI’s ChatGPT.
Nvidia’s data center division has blossomed, especially over the past three quarters. The company is the current market leader in supplying computer chips used in AI research and products.
— Yun Lee, Jonathan Bunyan
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