Japan's Nikkei share average rose more than 4% on Thursday to notch a record closing high, as AI-related stocks surged after U.S. memory chipmaker Micron's upbeat quarterly profit and revenue forecast.
The Nikkei closed 4.6% higher at 72,366.34, snapping two straight sessions of declines. The broader Topix rose 1.33% to 4,016.47.
Micron, a key supplier for Nvidia AI processors alongside South Korean chipmakers, forecast quarterly profit and revenue well above expectations and said customers had committed $22 billion to secure memory chip supply.
"The Nikkei's sharp gain is simply due to Micron's earnings," said Takamasa Ikeda, a senior portfolio manager at GCI Asset Management.
"The U.S. semiconductor index, which is highly correlated with the Nikkei, will probably rise later in the day."
On Thursday, SoftBank Group reversed course to jump 8%.
"Investors tried to lock in profits in technology stocks in the previous session ahead of Micron earnings, but they scooped up the shares today, and SoftBank Group was one of them," said Daisuke Hashizume, a senior strategist at Daiwa Securities.
Chip-testing equipment maker Advantest jumped 15% and chip-making equipment maker Tokyo Electron rose 7.78%. Memory chipmaker Kioxia advanced 12.27%.
Makers of AI-data centre materials advanced: Murata Manufacturing and Taiyo Yuden climbed 7.21% and 11.2%, respectively.
Defying the broader strength, energy-related stocks fell after oil prices extended declines. The mining sector dropped 3.18%, with Inpex down 3.35%, while oil refiners fell 1.38%.
Japanese shippers slipped 2%, with Kawasaki Kisen down 3.87%.
Of the more than 1,500 stocks on the Tokyo Stock Exchange's prime market, 66% rose, 30% fell and 3% were flat.
