The Nikkei Average rose significantly, surpassing 55,500 yen after three days, fueled by easing tensions in Iran and positive earnings from U.S. tech companies.
On November 11, the Tokyo stock market saw the Nikkei Average continue its upward trend, briefly surging over 1,200 yen to reach the 55,500 range for the first time in three trading days. This recovery follows recent tensions surrounding Iran, which have subsided, leading to a decline in oil prices and investor optimism. The positive earnings reports from U.S. tech giants, particularly in artificial intelligence and semiconductors, have further stimulated buying in these sectors.
Beginning the day at 54,917 yen, the Nikkei Average gained 669.54 yen at the outset and steadily increased throughout the session. Strong quarterly results from Oracle, a leading American IT firm, exceeded market expectations for its fiscal year ending February 2026, positively impacting stocks of related companies such as SoftBank Group and Advantest, which are also tied to AI and semiconductor technologies.
Additionally, on the New York Mercantile Exchange, the price of WTI crude oil futures dropped approximately 12% from the previous day, closing at $83.45 per barrel. This drop is attributed to easing tensions in the Middle East and a reduction in supply concerns, providing reassurance to investors and contributing to the positive market sentiment that encouraged capital inflow into the Japanese stocks market.
