Tokyo: Japan's Nikkei index closed at a three-week high on Thursday, marking its third consecutive session of gains. The rally was spearheaded by robot manufacturers, who are expected to benefit from growth in artificial intelligence-powered devices.
According to Yemen News Agency, the Nikkei rose 2.33 percent to 51,028.42, hitting its highest closing level since November 13. Meanwhile, the broader Topix index increased by 1.92 percent, setting a record high at 3,398.21.
Shares of Fanuc, a leading robot maker, surged 12.98 percent, leading the Nikkei's gainers and extending its weekly gains to 18.4 percent. The surge followed Fanuc's announcement of a partnership with U.S. chipmaker Nvidia to develop industrial robots powered by physical AI, which combines artificial intelligence with robotic technologies.
Yaskawa Electric, a rival to Fanuc, saw its shares rise by 11.37 percent. Earlier in the week, Yaskawa announced a partnership with SoftBank Group in the field of physical artificial intelligence. SoftBank's shares also increased, climbing 9.18 percent.
Robotics manufacturer Nabitsco's shares rose 11.28 percent, whereas shares of chip testing equipment maker Advantest experienced a slight decline, falling 0.77 percent.
The banking sector showed signs of recovery from previous losses, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group seeing their shares rise by 1.82 percent and 1.72 percent, respectively.