Japanese Nikkei index hits record high as SoftBank stock soars on expectations of growth in AI cloud business.

Driven by the rise of SoftBank Group, the Japanese Nikkei Stock Average Index climbed to a record high on Thursday. Prior to this, the market was optimistic about the growth of AI-driven cloud business, and SoftBank's stock price rose along with its American counterparts. The Nikkei 225 Index rose by 0.8% to 44,198.10 points, reaching a historical high of 44,251.65 points earlier in the day. The broader Topix index remained flat at 3,149.38 points. Chief strategist at Daiwa Securities, Yugo Tsuboi, said, "Expectations for continued growth in cloud business were boosted by the surge in Oracle's stock price, leading to the rise of the Nikkei Index driven by SoftBank Group." Tech company Oracle's stock price surged by 36% overnight, marking its largest single-day gain since 1992. Tech investment giant SoftBank Group saw a 9% increase in its stock price, while chip testing equipment manufacturer Advantest saw a 3.54% rise in its stock price. Fujikura, seen as a barometer for data center investments, saw a 4% increase in its stock price. The banking sector fell by 0.99%, and the insurance sector fell by 1.09%, becoming the two worst-performing sectors among the 33 industry classification indexes on the Tokyo Stock Exchange.