Japanese and Taiwanese Stock Indices Hit Record Highs Together

SoftBank Group Surges 9.98%

On September 11, the benchmark indices of both the Japanese and Taiwanese stock markets reached all-time highs.

According to the Tokyo Stock Exchange, the Nikkei 225 closed at 44,372, up 1.22% from the previous day, setting a new record closing high. During intraday trading, it climbed as high as 44,396, surpassing the previous intraday record of 44,185.

This surge was attributed to strong buying in SoftBank Group, which has a partnership with Oracle, after Oracle's stock price soared in the U.S. market for several consecutive days. SoftBank Group's stock price jumped 9.98% on the back of Oracle's rally. Oracle's stock price surged 36% following news of a massive order. Previously, Oracle announced that it had signed a contract with OpenAI, the developer of ChatGPT, to provide computing power worth approximately 300 billion dollars over the next five years.

Nikkei, the Japanese economic daily, commented, "Japanese stocks have already priced in much of the anticipated U.S. interest rate cuts and the strength of U.S. tech stocks," and predicted, "After the weekend, the market will enter a phase to gauge the sustainability of the spot-driven rally."

Taiwan's benchmark TAIEX index also closed at 25,215, up 0.09% from the previous session, marking a record high for the fourth consecutive trading day.

The TAIEX index hit 25,541 during intraday trading, breaking the previous all-time high set two days earlier. Shares of TSMC, the world's largest semiconductor foundry, rose 1.22%.

This content was produced with the assistance of AI translation services.