Nikkei 225 Rises 0.35% to 68,796 as Japan Tracks US Semiconductor Rally

According to Yonhap Infomax, on July 13, Japan's Nikkei 225 index rose 238.68 points or 0.35% to 68,796.41, while the Topix index gained 26.78 points or 0.66% to 4,062.86. The rally followed strength in U.S. technology and semiconductor stocks on July 10 (local time). SK Hynix's American Depositary Receipts (ADRs) surged approximately 13% from their initial public offering price, spurring buying across other chipmakers including Nvidia and AMD. SoftBank Group shares climbed over 2%, while IBIDEN and Tokyo Electron also advanced.

The rally came despite tensions between the U.S. and Iran. On July 11, the Iranian Islamic Revolutionary Guard Corps (IRGC) reportedly re-closed the Strait of Hormuz, prompting the U.S. Central Command to announce additional airstrikes. WTI crude oil futures for August delivery rose 3.44% to $73.87 per barrel. The dollar-yen exchange rate reached 161.992 yen, up 0.16% from the previous close.