Nikkei hits record high, chip stocks lead gains
On February 22, the Nikkei Stock Average surpassed the all-time closing record set in December 1989.。
On Thursday (Feb. 22), the Nikkei stock average surpassed its all-time closing record set in December 1989, driven by a surge in shares of chip-related companies as U.S. chipmaker NVIDIA (NASDAQ: NVDA) beat market expectations on its earnings outlook.。
Nikkei hits 38,924 at highest, data show.88 points, surpassing the 38,915 set on the last trading day of 1989..Historical closing record of 87 points。The index is 38,957 from its.An all-time closing record of 44 points is just one step away, a record set in nearly 35 years.。
As of 1: 22 GMT, the index was up 1.54%, at 38,856.90 points。
Nvidia shares rose 6% in the previous session as the company expects its fiscal first quarter revenue to exceed expectations due to strong demand for its processors in artificial intelligence (AI).。
Japanese chip-making equipment company Tokyo Electron up 3.79%, providing the biggest boost to the Nikkei。Shares of chip test equipment maker Advantest rise 4.88%, Startup Tech Company Investor SoftBank Group (TYO: 9984) Up 3.99%。
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