Nikkei Edges Up on Tech Gains while Market Eyes Japan’s Leadership Race

The Japanese stock market index Nikkei 225 (Symbol: Nikkei225) saw modest gains, primarily driven by the rally in semiconductor-related shares following a strong performance on Wall Street. Traders took cues from the overnight surge in U.S. tech stocks, particularly memory chipmaker Micron Technology, which beat revenue expectations, benefiting AI-driven demand. This positive momentum flowed into the Asian markets, lifting Tokyo Electron and Lasertec. However, broader market gains were capped as attention shifted to the Liberal Democratic Party leadership election in Japan, set to determine the successor to Prime Minister Fumio Kishida. While stocks like Fanuc and Yaskawa Electric gained ground on hopes of continued Chinese stimulus, caution prevailed ahead of the election outcome. Investors are especially focused on candidate Sanae Takaichi, whose policies mirror the late Shinzo Abe’s pro-stimulus approach.

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