AI Optimism Lifts Japanese Stocks Higher; Oil Cools on Supply Relief

MT Newswires Live
Oct 01

Japanese stocks extended gains on Thursday after technology stocks rose on artificial intelligence chipmaker Micron's results. Investors gained confidence in technology investments, even as US Treasuries held losses and US bonds wrapped up their sharpest quarterly selloff in more than three decades.

The benchmark Nikkei 225 closed 2,203.00 points, or 3.3%, higher at 68,956.72.

Oil prices fell on improved crude supply from the Middle East and a rise in US inventories, easing energy supply concerns as investors remain watchful of US-Iran diplomatic engagement.

On the corporate side, Synspective (TYO:290A) has signed a multi-year deal with launch services and space systems company Rocket Lab Corp. for 20 dedicated launches of its Electron rocket.

Also, Daito Pharmaceutical (TYO:4577), Meiji Holdings' (TYO:2269) operating subsidiary Meiji Seika Pharma, and Development Bank of Japan (DBJ) will form a joint venture to launch Pharmatech Co‑creation Platform in December.

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