Japan’s Nikkei 225 index has topped 59,000 for the first time, driven by new Bank of Japan board appointments fuelling the “Takaichi trade.” Asia-Pacific markets mostly rose, boosted by a U.S. tech rally led by Nvidia.
The Nikkei surged 1.1 per cent to a record 59,199.31, its third straight peak. The Topix climbed 1.45 per cent to a high of its own.
The government picked Ayano Sato of Aoyama Gakuin University and Toichiro Asada of Chuo University for the BOJ board on Wednesday. Their dovish stances align with Prime Minister Sanae Takaichi’s pro-growth plans, succeeding Asahi Noguchi and Junko Nakagawa.
The “Takaichi trade” has propelled Japanese shares to multiple records, betting on Abenomics-style easing and spending to lift stocks and weaken the yen.
South Korea’s Kospi gained 1.65 per cent, Kosdaq 0.57 per cent. Australia’s S&P/ASX 200 rose 0.8 per cent to a record. Hong Kong’s Hang Seng fell 0.62 per cent, CSI 300 0.2 per cent. The Bank of Korea held rates at 2.5 per cent.
Nvidia’s stellar results sparked an AI tech surge. SK Hynix jumped over 2 per cent, Samsung Electronics about 5 per cent as a decades-old Nvidia partner. LG Innotek soared nearly 14 per cent, Seoul Semiconductor 13 per cent. Japan’s TOPIX Information & Communication index rose 2.6 per cent.
U.S. indices advanced: S&P 500 up 0.81 per cent to 6,946.13, Nasdaq 1.26 per cent to 23,152.08, Dow 0.63 per cent to 49,482.15.
Nvidia posted fiscal fourth-quarter results that topped forecasts, with 75 per cent data centre revenue growth. Adjusted EPS was $1.62 versus $1.53 expected; revenue $68.13 billion against $66.21 billion estimates. Shares gained up to 2 per cent after hours.