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Japan stocks mostly soar on US midterms but AI-related ones extend tumble
TOKYO: Japanese stocks rallied on Thursday, buoyed by declines in crude oil after a Democratic sweep in US midterm elections weakened President Donald Trump’s position and raised hopes for an end to the Iran war. However, AI and chip shares extended sharp declines from Wednesday on bets that Democrats will slow the pace of AI data centre expansion. The tech selloff benefited sectors such as retail and real estate as investors rotated positions. The broad Topix rose 1.3% as of 0131 GMT, and was earlier up as much as 2.4%. Lower crude prices tend to support Japan Inc, because the resource-poor c...
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