AI Optimism Reignites as Nikkei Reclaims 70,000
nashnova research
The Nikkei 225 broke above 70,000 intraday on Monday for the first time in three months, led by AI-linked tech stocks — but whether it can hold by the close remains an open question.
How big is this rally?
The Nikkei 225 surged as much as 1,700 points on Monday, a 2.5% gain that pushed it past the 70,000 mark.
Over the past five trading sessions, the index has climbed 6% — its first return to this level in three months.
This means → the market shifted from hesitation to offense in a single week, with bullish momentum releasing all at once.
Which stocks are leading?
AI-related names top the board: SoftBank Group, Advantest, and Tokyo Electron posted the largest gains.
The immediate catalyst was Micron Technology's upbeat earnings outlook last week, which boosted confidence in sustained AI demand.
In plain terms = Micron's guidance told the market "AI chip orders are still accelerating," and Japan's equipment and testing firms rose on the same tide.
How did the U.S. backdrop help?
U.S. September non-farm payrolls came in below expectations, prompting investors to scale back bets on a Fed rate hike this month.
Treasury yields fell, supporting valuation recovery for growth stocks — AI names benefited most.
This means → softer jobs data → cooler rate-hike expectations → breathing room for rate-sensitive tech stocks. That chain ran straight from Wall Street to Tokyo.
What happened the last time it hit 70,000?
The Nikkei 225 first closed above 70,000 in mid-June, when its year-to-date gain exceeded 40%.
That rally was driven by two engines: AI momentum and expectations around U.S.–Iran peace talks. Both faded — AI hype cooled and Middle East tensions persisted, stalling the advance.
This reflects a key point: 70,000 is not a floor you reach and keep. The last breakout failed to hold — whether this one can survive through the close is still unproven.
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