The Nikkei Stock Average reached a new all-time high, driven by news that the government of Sanae Takaichi nominated two reflation advocates to the Bank of Japan's policy board. Additionally, a rebound in technology stocks, as concerns over artificial intelligence eased, improved market sentiment. However, bank stocks limited the overall gains of the Topix index due to diminished expectations for near-term interest rate hikes. At the close of trading in Tokyo, the Nikkei index rose 2.2% to 58,583.12 points, setting a new record. The Topix index advanced 0.7% to 3,843.16 points. Among the 1,662 components of the index, 917 stocks increased, 686 declined, and 59 remained unchanged.