Japan’s Nikkei 225 jumped 1.4 per cent to within just 130 points of its all-time closing high in the first 10 minutes of the Thursday open, as Tokyo stocks reacted to the overnight news of a 233% surge in Nvidia’s quarterly revenues and a 10 per cent rise in the chipmaker’s shares during after-hours trading.
The Nikkei, which is a tech-heavy index, has been closely tracking the fortunes of the US tech sector over recent weeks.
The Tokyo market was Asia’s first major exchange to reflect investor mood around Nvidia’s numbers, which had been hotly anticipated by markets around the world.
Throughout this week, traders in Tokyo have taken a pause on a recent rally as they awaited Nvidia’s results. On Thursday they said that the chipmaker’s results had “probably done enough” to reignite some of the previous week’s momentum behind tech stocks and push the Nikkei to its all-time high at some point today or next week.