Japanese Shares Advance as SoftBank Extends Surge

The Nikkei 225 Index jumped 1.7% to above 62,700, while the broader Topix Index rose 0.7% to 3,880 on Friday, building on gains from the previous session amid renewed optimism surrounding technology and artificial intelligence-related stocks. SoftBank Group surged more than 10%, extending the previous day’s nearly 20% rally, after reports indicated that two of its portfolio companies, OpenAI and SB Energy, are progressing toward US initial public offerings. Other major technology shares also moved higher, including Kioxia Holdings (+3%), Fujikura (+6.2%), and Ibiden Co (+3.9%). On the geopolitical front, Tehran said the latest US proposal had partly narrowed differences between the conflicting sides. However, remarks from Iran’s Supreme Leader about retaining the country’s uranium stockpile, along with disagreements over proposed tolls in the Strait of Hormuz, continued to cloud prospects for a breakthrough agreement.

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