Nikkei Surges Past 69,000 as AI Shares Defy Weak Japanese GDP

Tokyo stocks rose on August 17, with the Nikkei 225 closing at 69,220.25, up 506.45 points, as buying in artificial intelligence and semiconductor-related shares outweighed weaker-than-expected economic growth.

The index briefly slipped into negative territory in morning trading but strengthened again in the afternoon and finished near the day's high.

Nikkei AI-linked heavyweights such as Advantest, Kioxia Holdings, SoftBank Group, Tokyo Electron, and Fujikura led the rally, with their shares rising by 219, 190, 118, 96, and 413 yen respectively.

The stronger-than-expected performance of these companies contributed to the index's recovery for a fifth straight session and helped it surpass the 69,000 level for the first time in about a month and a half.