The Nikkei index closed up 1,539 points or 2.9%, with Tokyo Electric Power hitting the limit up, leading the AI concept stocks

AASTOCKS
2026.03.18 07:05

Japanese stocks rose as Iraq reached an agreement with the Kurds and Turkey to export oil through their territory, leading to a decline in oil prices during the Asian session and attracting investors. The Nikkei average opened up 448 points and extended its gains, closing at a daily high of 55,239 points, up 1,539 points or 2.9%.

In the artificial intelligence and semiconductor sectors, SoftBank (9984.JP) and Discus (6146.JP) rose by 5.8% and 4.9%, respectively, while Advantest (6857.JP) and Kioxia (285A.JP) increased by 6.7% and 8.2%. Tokyo Electron (8035.JP) rose by 3.9%, and Renesas Electronics (6920.JP) gained 0.5%. Fiber optic stocks such as Furukawa Electric (5801.JP), Sumitomo Electric (5802.JP), and Fujikura (5803.JP) rose between 4.5% and 5%. Heavy industry stocks Kawasaki Heavy Industries (7012.JP) and IHI (7013.JP) increased by 4.8% and 3.9%.

In the metals sector, JX Metals (5016.JP) rose by 3.5%, while Sumitomo Metal Mining (5713.JP) and Mitsui Mining & Smelting (5706.JP) increased by 4.7% and 7.6%. Rare earth concept stock Mitsui Ocean Development (6269.JP) rose by 5.7%. Trading companies also saw gains, with Mitsui & Co. (8031.JP) and Mitsubishi Corporation (8058.JP) rising by 7.3% and 7.8%, while Sumitomo Corporation (8053.JP) and Itochu (8001.JP) increased by 4.7% and 3.3%.

In other stocks, Fast Retailing (9983.JP) rose by 1.2%, while department store stock Isetan Mitsukoshi (3099.JP) increased by 4%. Bank stocks Mitsubishi UFJ Financial Group (8306.JP), Sumitomo Mitsui Financial Group (8316.JP), and Mizuho Financial Group (8411.JP) rose by 2.5% to 3.1%. Shipping stocks Nippon Yusen (9101.JP) rose by 4%, and Mitsui O.S.K. Lines (9104.JP) increased by 11.8%, with reports suggesting that the latter received investment from activist investors.

Tokyo Electric Power Company (9501.JP) surged by 16.3% and hit the daily limit, amid rumors that the company is considering privatization through capital cooperation. Mitsubishi Electric (6503.JP) is reportedly planning to sell a 50% stake in its automotive parts business to Hon Hai, with its stock price rising by 3.3%.

The USD/JPY exchange rate is reported at 158.7

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