# Japan's Nikkei rises 2% as AI stocks rally, Middle East worries cap gains — retained record

> Retained news record from news:india-et-markets.

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source: [news](https://highsignal.app/data/news) (news:india-et-markets)  published 2026-08-10 03:09 ingested 2026-08-10 07:22

[original source ↗](https://economictimes.indiatimes.com/markets/us-stocks/news/japans-nikkei-rises-2-as-ai-stocks-rally-middle-east-worries-cap-gains/articleshow/133079117.cms)

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"Gains of chip-related stocks supported the Nikkei. Easing bets for the U.S. Federal Reserve's rate hike were the driver," said Daisuke Hashizume, senior strategist at Daiwa Securities. U.S. stocks advanced on Friday, with the S&P closing at a record high to cap off a strong week of gains for the major indexes, after data showed the U.S. economy unexpectedly shed jobs last month and dampened expectations the Fed would raise interest rates at its September meeting. In the Middle East, uncertainty continued over the reopening of the Strait of Hormuz as Iran said a deal with Oman defining new shipping lanes was in its final stages, but the U.S. must still meet other conditions.
In Japan, chip-related Advantest and Tokyo Electron rose 5.3% and 3.4%, respectively.
Fujikura was up 7%, extending a sharp rally after the fibre-optic cable maker raised its annual net profit forecast on Friday.
Ibiden, a supplier to AI bellwether Nvidia , rose 6.28%. Shares of Recruit Holdings were untraded with a glut of buy orders after the staffing agency's revised annual forecasts beat market expectations. The shares were bid at a daily limit high of 16,165, or 22.79% higher from the previous session's close.
Investors stayed away from active trade as Japan is in the midst of the "obon" summer holidays and toward the end of the week, the main indexes will show little direction on the dearth of market-moving cues, Daiwa's Hashizume said.
Uniqlo-brand owner Fast Retailing edged 0.23% lower.
Mitsui Kinzoku, a maker of materials for lithium-ion batteries, tanked 17% after its revised annual net profit forecast failed to meet market expectations.
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document fetched 2026-08-10 07:22