Japan’s Nikkei share average surpassed the 67,000 mark for the first time on Monday, driven by gains in AI-related stocks, Reuters reported.
SoftBank Group, a Japanese multinational investment holding company, was the largest contributor to the Nikkei’s advance, with its shares rising 10.3%. The increase added 618 points to the index’s overall gain of 709 points. Following the rally, SoftBank’s market capitalization climbed to approximately $296.0 billion, surpassing Toyota Motor Corporation’s valuation of around $286.5 billion after Toyota shares fell 4.8%.
The move came after SoftBank announced over the weekend plans to invest about $87.3 billion in AI infrastructure projects in France over the next five years.
While technology-related stocks supported the Nikkei, the broader Topix index slipped 0.2%, highlighting a divergence between AI-linked companies and the wider market. Market breadth also remained negative within the Nikkei, with only 73 of its 225 components advancing and 152 declining.
Among individual stocks, Advantest fell 2.2% and Fujikura dropped 3.6%. Meanwhile, Mitsubishi Motors recorded the largest decline among Nikkei constituents, falling 9.1%, while Nissan Motor lost 7.2%.
Among the Tokyo Stock Exchange’s 33 industry groups, eight recorded gains. The IT sector led the advances with a 4.3% increase, while auto-related shares were among the weakest performers, declining 4.2%.
