Japanese shares rebounded on Thursday to erase the losses of the last two trading sessions, tracking the overnight gains on Wall Street, which were lifted by a resurgence in mega-cap technology and AI-centric stocks.
The benchmark Nikkei 225 closed higher by 3,191.37 points or 4.61% at 72,366.34 on Thursday.
Investors cheered the upbeat forecasts from US memory chipmaker Micron Technology and semiconductor designer Qualcomm, which reignited confidence in the artificial intelligence space.
Back home, Japan's leading economic index, which gauges economic outlook for the months ahead, rose to 116.1 points in April from 115.4 points in the previous month, according to data from the Cabinet Office on Thursday. The latest print was revised upwards from the preliminary estimate of 115.9.
On the corporate side, Mitsubishi (TYO:8058) filed for the listing of $1 billion worth of bonds on the Singapore bourse, according to a filing with the Singapore Exchange on Thursday. The company filed for $500 million worth of 4.625% senior bonds due 2031 and $500 million worth of 5.125% senior bonds due 2036.
Also, SoftBank Group's (TYO:9984) artificial intelligence-powered robots have entered the mass production phase, as the company eyes AI business expansion, The Mainichi reported Thursday, quoting group CEO Masayoshi Son