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Japan's Nikkei 225 index surged nearly 3% on Wednesday to break through the 68,000-point mark for the first time, as the global AI boom continued to drive markets. Semiconductor stocks led the rally, with Tokyo Electron surging up to 14%. The record high extends a banner year for Japanese equities, which have gained nearly 33% since the start of 2026.
Japan's Nikkei index surged more than 3% on May 26, led by technology stocks. Investor optimism over global demand for chips and advanced electronics, along with expectations of continued easy monetary policy and regional economic recovery, drove the rally. Major tech names like Tokyo Electron and Advantest posted strong gains.
The US dollar breached the 160-yen mark in Tokyo trading on Wednesday, a level first reached since late April, driven by Middle East instability and safe-haven demand. The surge threatens to prompt fresh intervention from Japanese authorities, who previously stepped in when the dollar hit 160 yen in late April.
The US dollar rose to 160 yen on Monday for the first time since late April, its highest in a month. Analysts cite the Fed's higher-for-longer rate stance versus the Bank of Japan's easy policy as the main driver, widening the interest rate gap. Japan previously intervened at 160 yen in April but has not yet acted this time.
Canada has sent a letter to the U.S. and Mexico proposing a 16-year extension of the USMCA trade deal while seeking parallel negotiations on sectoral tariffs. The move comes ahead of a meeting between Canadian and U.S. trade negotiators on Tuesday, amid criticism that Canada has been slow to engage in the review process. If all three countries do not agree to an extension, the deal will shift to an annual review mechanism until 2036.
The Trump administration has proposed a new 25% tariff on imports from Brazil, accusing the country of unfair trade practices related to deforestation, digital trade, and agreements with Mexico and India. The tariff would be imposed under Section 301 of U.S. trade policy, with a public comment period beginning Thursday.
Japanese snack giant Calbee Inc. has launched black-and-white packaging for its Kappa Ebisen shrimp crackers in Tokyo this week to mitigate supply disruptions of petroleum-derived naphtha, a key printing ink ingredient affected by Middle East conflict.
Alphabet announced an $80 billion share sale to raise capital for AI infrastructure, with $10 billion going to Berkshire Hathaway. CEO Sundar Pichai cited “unprecedented demand” as the company ramps up spending to stay competitive in the AI race.
Anthropic, the company behind AI chatbot Claude, has filed a confidential IPO in the United States, marking a potential turning point for the AI wave on Wall Street. The move creates a high-stakes test of investor enthusiasm for the AI revolution. Anthropic did not disclose terms, but the company was valued at $965 billion in a recent funding round.
SoftBank Group Corp. has overtaken Toyota Motor Corp. to become Japan's most valuable listed company for the first time in over 22 years, as tech stocks surge. The shift underscores investor preference for technology and AI over traditional industries.
