The 225-issue Nikkei average rallied to its highest level in more than a year Thursday, as investors bought back recently beaten down semiconductor-related shares on optimism for improved corporate earnings.
The Nikkei benchmark share average ended up 0.55 percent at 22,750.60. It earlier rose to 22,780.99, the highest since Oct. 18, 2018. So far it is up 13 percent for the year.
"We're in the age of big data and artificial intelligence, and both require semiconductors," said Kiyoshi Ishigane, chief fund manager at Mitsubishi UFJ Kokusai Asset Management Co. in Tokyo.